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54 sats \ 2 replies \ @Undisciplined 2 Mar \ parent \ on: The data to help you become a better Stacker ⚡ meta
They're getting less uneconomic as the stakes increase though. We refer to that as "saliency" in experimental economics. Oftentimes experiments fail to find results because the design didn't create a big enough payoff spread between the different actions.
If I could earn another kilosat by zapping better, I'm more inclined to make the effort to do so when that kilosat is worth more.
Ah -- that seems plausible. I might incorporate that into something like:
- the psych factors of all the exuberant feels lead to people zapping more
- this gives them the chance to observe economic payoff matrices
- increased value makes those payoffs salient enough to care about
If that's the generative model, it's not obvious how to realistically pry apart #1 from #2 and #3. You could run an experiment but it would be unnatural-seeming.
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Numbers 2 and 3 lead researchers to identify this problem. A bunch of experiments were putting people in unusual situation that nonetheless had very distinct theoretical predictions. However, due to funding constraints, the payoff differences were only like a nickel.
The participants quite rationally didn't find it worth their time to think through what was going on nor did they notice a material difference in the payouts they were getting so they couldn't learn anything anyway.
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