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The Traveler's Dilemma - PsyCrit

The Traveler's Dilemma

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The Traveler's Dilemma: Basu, Kaushik Scientific American, May 20, 2007 (2007).

Abstract

Lucy and Pete, returning from a remote Pacific island, find that the airline has damaged the identical antiques that each had purchased. An airline manager says that he is happy to compensate them but is handicapped by being clueless about the value of these strange objects. Simply asking the travelers for the price is hopeless, he figures, for they will inflate it.

Instead he devises a more complicated scheme...

Responses

 Date"Date" is a type and predefined property provided by Semantic MediaWiki to represent date values.AuthorLead-in
Rationality and Process25 May 2007J. E. R. StaddonThere is a philosophical (or perhaps definitional) problem with the analysis so engagingly presented by Basu. Definition: The rational choice is the one that (for defensible reasons) gains the most payoff. Thus, buying a lottery ticket on a hunch is not rational even if you win...
... more about "The Traveler's Dilemma"
Lucy and Pete, returning from a remote PacLucy and Pete, returning from a remote Pacific island, find that the airline has damaged the identical antiques that each had purchased. An airline manager says that he is happy to compensate them but is handicapped by being clueless about the value of these strange objects. Simply asking the travelers for the price is hopeless, he figures, for they will inflate it.</br></br>Instead he devises a more complicated scheme...ad he devises a more complicated scheme... +
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