2min chapter

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#48 - Brian Christian on better living through the wisdom of computer science

80,000 Hours Podcast

CHAPTER

How to Adjust the Distribution of the Offers in Real Time

There's usually a very straightforward rule that you can apply in the situation. So if you pay, lets at a fixed cost, for every additional offer that you entertain, it should be quite easy to determine the probability that a new offer is better than the one you currently have. And so there's something just kind of beautifully straightforward about that. It enables you to, i think, confidently, just set a price going in and then essentially ignore the offers that come in. You don't have to do anything. Just wait until that threshold is reached, and then you're good.

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