Sunk cost "fallacy" and spite are in the past, guilt and shame in the future wrt any decision. "Irrational" only in the short term.
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Replying to @sarahdoingthing
The capacity for all these make agents better cooperation partners and incidentally make cooperative equilibria more possible.
3 replies 1 retweet 3 likes -
Replying to @sarahdoingthing
@sarahdoingthing sunk costs also assumes accurate knowledge of current/future value. Only in economics experiments, rare in real life.1 reply 0 retweets 1 like -
Replying to @sarahdoingthing
@sarahdoingthing I think sunk costs is an adaptation to uncertain future value, an aid to committing to something. http://humancond.org/analysis/bias/sunk_costs …3 replies 0 retweets 1 like
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