Hammocks4All

Hammocks4All , 1 month ago

I once heard of an experiment in economics that offers insight into this.

Say you have 100 people. You give each of them one of two choices:

A : you get $40 unconditionally
B: you get $70 - n, where n is the number of people who choose B

You end up getting, on average across experiments, n = 30.

If you move the numbers around (i.e, the $40 and the $70), you keep getting, on average, a number of people choosing B so that B pays out the same as A.

I think the interpretation is that people can be categorized by the amount of risk they’re willing to take. If you make B less risky, you’ll get a new category of people. If you make it more risky, you’ll lose categories.

Applied to traffic, opening up a new lane brings in new categories of people who are willing to risk the traffic.

Or something. Sorry I don’t remember it better and am too lazy to look it up. Pretty pretty cool though.

Hammocks4All , 1 month ago

Yes. That wasn’t the best word choice; maybe “group” would have been better. I meant groups of people who are willing to take some level of risk. Imagine the categories are “low risk takers”, “medium risk takers”, and “high risk takers”.

Compared to A paying out $40, if you make B $50-n you’ll only get the high risk takers choosing B. If you make it $70-n you’ll get high and medium risk takers. If you make it $120-n you’ll get almost everybody.

If risk taking is a value between 0 and 1, the categories are groups of people inside certain intervals. For example, low could be [0, 1/3), medium could be [1/3, 2/3), and high could be [2/3, 1].

Hammocks4All , 2 months ago

Totally. If I hear a really good song sometimes I’ll do a hyper study over a period of time listening to every album, all collabs, the collaborator’s albums, and so on. Definitely did this more when I was younger. But when I hear that sound, it’s mission time.

Hammocks4All , 2 months ago

I saw this earlier and at first glance thought they were tiny cars, the point being that society should focus on smaller vehicles. Just saw it again and thought “wait…”