The "regret minimization" principle guides us in making decisions that we won't regret later from "summary" of Algorithms to Live By by Brian Christian,Tom Griffiths
When faced with a decision, it's natural to consider the potential consequences and try to predict the outcome. This process often involves weighing the possible benefits against the potential drawbacks, aiming to make the best choice possible. However, the "regret minimization" principle offers a different perspective on decision-making. Instead of focusing on maximizing the benefits or outcomes, this principle encourages us to consider how we will feel about our decision in the future. By prioritizing the reduction of regret, we shift our focus from immediate gains to long-term satisfaction. This approach acknowledges that our emotions and feelings play a significant role in how we evaluate our decisions. Rather than solely relying on rational calculations, the regret minimization principle takes into account the emotional impact o...
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