Well when I look at experiment 1, I feel the risk. My brain simulates my reaction upon getting nothing and does not reduce its emotional weight in accordance with its unlikeliness. Looking at experiment 2, I see the possibility and think, “Well, I’d be screwed either way if I’m not lucky, so I’ll just look at the other possibility.”. My system 1 thought ignores the 89% vs 90% distinction as pointless, and, while not consistent with its other decision, it is right to do so.
Well when I look at experiment 1, I feel the risk. My brain simulates my reaction upon getting nothing and does not reduce its emotional weight in accordance with its unlikeliness. Looking at experiment 2, I see the possibility and think, “Well, I’d be screwed either way if I’m not lucky, so I’ll just look at the other possibility.”. My system 1 thought ignores the 89% vs 90% distinction as pointless, and, while not consistent with its other decision, it is right to do so.