Should I wait in line to get this free mug? Should I walk to dinner rather than taking a taxi? Should I drive an extra fifteen minutes to go to the cheaper grocery store? Should I keep reading reviews for another twenty minutes to make sure I've really found the best hot water bottle that $10 can buy? These questions can be quite difficult to answer without a framework for valuing our time, especially since considerations of this sort tend to trigger cognitive biases.
To figure out how much w...
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reward
Experts Are Expert But Not Necessarily In What You Think
What are top pure mathematicians experts in? How about top doctors? The easy answers would be "pure math" and "medicine", but these are a bit too vague to be satisfying (What is pure math? What is medicine?). They also don't capture all of what these experts excel at.
To know what an expert of a particular type is truly expert at, we need to understand the system that creates that type of expert. What are these experts rewarded for doing or knowing? What actions make them more or less likely ...
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