Decisions...

[myself0510]

What do you do when you have two options? How do you choose? There is no right or wrong one. Looking just at the near future, both sound bad. In the long run one is everything I could ever want, though I am unsure of how likely the outcome is; the other one has a 100% chance of succeeding, but with a less favourable outcome.

I did study a bit of

Comments

[allsorts46]

What do the 'gain' values represent, and how did you come up with the values you assigned?

[myself0510]

The problem here is that I forgot the exact terminology for this. It was 1st year and a filler course, so... Let me try to explain the concept. Given a decision in which you have say 10 options, the way to see what's the best option is to assign a 'gain' value to each option that would represent numerically what you would gain on any level if you chose that option. That is, I believe, the biggest problem with this method, because how can one really know the value of happiness? The way I chose the numbers is that I assumed the gain for choice 1 is 1.5 times greater than the other possible gain. The numbers 150 and 100 where chosen arbitrarily, because I just needed to compare, so I chose something to make my computations a bit nicer

[allsorts46]

I already understood the method, you didn't have to explain that. I was asking what the values you assigned to 'gain' represented in the real world and how you came up with those values.

Since you say the values mean nothing, it's just the 1:1.5 ratio you wanted, how did you come up with that ratio?

[myself0510]

That is a bit more tricky to explain whilst keeping it at this level of abstract. I first wanted to say double, but then I figured the outcome of both choices would be the same except one detail, and as important as that detail is, it is far from being vital. Does this answer your question?