dsavitsk
MOT: ECP Audio
- Joined
- Aug 3, 2003
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Philosophy is always worth arguing.
Is it worth arguing that this is not philosophy, but rather economics.
If the point of the play vs. party tradeoff example is that a more pleasurable experience should always be chosen over a less pleasant one regardless of any associated costs, I'd say that sounds like hedonism, not wisdom.
The point is not that one should do what is more pleasurable, but that already invested amounts (sunk costs) are immaterial to choices. That is the sunk cost fallacy in a nutshell. One does not have to live by that so long as one is comfortable being called irrational by economists.