'Current aspiration can be approximated by a constant plus an exponentially weighted moving average of past experience'... 'As individuals adapt their aspirations to their experience, both their satisfaction and dissatisfaction are short-lived.' And it does not only adapt to one own's experience but to other people's experience.
'Decision makers look for information, but they see what they expect to see and overlook unexpected things. Their memories are less recollections of history than constructions based on what they thought might happen and reconstructions based on what they now think must have happened, given their present beliefs.'
Popper and Parfit: the minds of philosophers
3 weeks ago
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