The trouble with regret minimization
Regret minimization is a framework for evaluating important life decisions. Personally, I have found it difficult to apply to my own life, and in this post, I make a case for why regret minimization is more complicated than it seems. According to regret minimization, we should project ourselves into the future and consider which path we would regret not taking more. In this specific case, regret minimization based on my current values may bias me toward a more risk-seeking path. Regret minimization is a framework that biases toward doing things. Many experiences in life have limited downside, but high upside, so regret minimization says we should try all the things! Do all of X, Y, and Z! Get all of the graduate degrees! After all, we might regret not doing Y. But doing things has a cost. According to regret minimization, you should make decisions based on what your 80-year-old self would think.