Thanks for the personal story @trafalgar and the great piece. I actually know where you're coming from (different place, same kind of story).
Love the analysis too. I actually wrote an Econ paper in college once that was all about cognitive biases and heuristics relating to entrepreneruship and startups, and went into rational decision making under uncertainty, asymmetric value functions, prospect theory etc.. Indeed, cognitive neuroscience studies demonstrate that reward anticipation under probabilistic events and risk exhibits non-linear neural responses - suggesting probability distortion at the level of the brain’s reward processing mechanism! Was so excited reading your post I actually dug up this specific reference from that paper many years ago lol
Hsu et al. (2009), Neural Response to Reward Anticipation under Risk is Nonlinear in Probabilities, The Journal of Neuroscience, 29(7), 2231-2237
Also recall reading some relevant research (maybe from HBR?) showing that entrepreneurs are actually WIRED (relating to the above) to be entrepreneurs, while managers are quite the opposite. Anywayy
Thanks again for great content, Steem on!!
thanks for checking it out
sounds pretty interesting, obviously would be far more in depth that my facetious piece
some of the personal accounts here are exaggerated for comedic effect, but the message is the same
I hear you! At any rate, we're definitely all better off staying away from casinos - including my Statistics professor from Europe, who tought us the 'optimized roulette bet' (it's a bet on color and a similar amount bet on the 2nd or 3rd column with the opposite majority color) ha :P
haha ya that way you only lose a lot in the long run :)
hey @trafalgar , I actually wanna direct a question to you, an experienced Steemian, if you could spare the time to answer.
So I have been trying to figure out how the blockchain exactly works in relation to post frequency and payout reductions if you exceed them. I searched a lot and found about the 4 posts / day, but also about them being spaced out 6 hours apart from each other. So, my question is, as long as I post 4 or less posts a day, could they be closer to each other in time (say an hour apart) without affecting payouts? Or do I need to keep the 6 hours? The only guideline posts I found were quite old so I am not sure what the current status quo is, and decided to ask you since I couldn't find a definite answer anywhere.
I posted a 3-part series today and I kept the 6hours apart (although this practice can compromise the exposure of some of the posts throughout the day given the time in different time zones and what not ), and I wonder how things exactly work such as to plan ahea moving forward.
Thanks a lot in advance for your help!!!
I think posting limits were taken out since last hardfork (patch) so you can post as much as you want without suffering reward penalties
That being said, I find that people people who spam the space generally don't do as well as the quality of their posts suffer greatly. Voters may also be more reluctant to upvote people with multiple posts a day. In the end it's about quality content.
I myself post a maximum of 1 post every 2 days, and on average less than that. I figured even though I'm relatively new myself some restraint on my part is fairer for the community at large.
Oooooh I see!! Nice, thanks for letting me know!! Don't think I would have easily found this elsewhere. And I hear you, makes perfect sense, I don't expect to be posting at such high frequency myself, I agree with the quality element for sure. (my post today was broken into 3 distinct pieces given the volume of info and I thought about getting them all up as closely as possible for cohisiveness purposes). At any rate, good looks again I appreciate the help :) :)