http://lesswrong.com/lw/aid/heuristics_and_biases_in_charity/63gy—second half addresses specifically why “5p 1/5” might be preferred to 1p. In short, “5p 1/5″ produces a bell curve instead of an “all or nothing” gambit.
http://lesswrong.com/lw/aid/heuristics_and_biases_in_charity/63gy—second half addresses specifically why “5p 1/5” might be preferred to 1p. In short, “5p 1/5″ produces a bell curve instead of an “all or nothing” gambit.