That makes a lot of sense to me. Aversion to small losses makes a ton of sense as a blanket rule, when the gamble is:
lose: don’t eat today
win: eat double today
don’t play: eat today
Our ancestors probably faced this gamble since long before humans were even humans. Under those stable conditions, a heuristic accounting for scale would have been needlessly expensive.
That makes a lot of sense to me. Aversion to small losses makes a ton of sense as a blanket rule, when the gamble is: lose: don’t eat today win: eat double today don’t play: eat today
Our ancestors probably faced this gamble since long before humans were even humans. Under those stable conditions, a heuristic accounting for scale would have been needlessly expensive.