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Old 07-26-2005, 10:54 AM
fnord_too fnord_too is offline
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Join Date: May 2004
Location: Norfolk, VA
Posts: 672
Default Re: Unfinished business?

The sentiment you are expressing is a common trap humans fall into. We feel the need to have all accounts in the black. Tversky and Khaneman have published on this subject. A couple of examples:

Someone who paid for tickets to a game are more apt to drive through a blizzard to get to it than someone who got the tickets for free, even though at the time of the decision the source of the tickets is irrelevant.

The following scenario was given and people surveyed on their response:
You go to a show, buy a ticket for $10 and lose it before entering. The only way to see the show is to buy another ticket for $10 and you have enough money to do so without impacting other plans, do you? Most said no.
But when asked:
You go to a show and find that you have lost $10 from your wallet. You still have enough to buy the $10 ticket without impacting any other plans, do you? Most said yes.

In both cases, the situation is the same, just how one arrived there is different.

So, short answer, no, don't go back just to make your record perfect, that is silly. Why would you sacrafice EV for it?

Longer answer: Read Tversky and Khaneman's works, they are great and illustrate many of the irrational decision making quirks we humans have.
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