I dont know why everyone is so concerned about money pumping. People don’t seem to have defenses against it, but it doesn’t seem to affect any one very often either: even Ponzi and pyramid schemes aren’t exactly money pumping circular preferences.
If it’s cost free to have a consistent preference system that avoids money pumping, you should do it...but it isn’t cost free...and it isn’t your only problem. There are a gajillion other things that could kill or harm you, all of which could have their own costs. Evolution seems to have decided to put resources into other things
I dont know why everyone is so concerned about money pumping. People don’t seem to have defenses against it, but it doesn’t seem to affect any one very often either: even Ponzi and pyramid schemes aren’t exactly money pumping circular preferences.
If it’s cost free to have a consistent preference system that avoids money pumping, you should do it...but it isn’t cost free...and it isn’t your only problem. There are a gajillion other things that could kill or harm you, all of which could have their own costs. Evolution seems to have decided to put resources into other things