in response to your first point, yes I did mix those up.
And for the 2nd, I’m thinking hedonically and am leaning on the literature on hedonic adaptation. I’m not sure how to think about re-doing the calculations if I was using preferences util. So I think it’s consistent to say “I would give up much more than a year of life to keep my child alive” whilst recognising that few (any?) events have a long term impact on happiness, either positive or negative.
I think the results on ‘hedonic adaption’ are much less straightforward than you think they are. In general I’d caution against making strong claims that completely go against common sense about people’s preferences based on just reading a few studies.
in response to your first point, yes I did mix those up.
And for the 2nd, I’m thinking hedonically and am leaning on the literature on hedonic adaptation. I’m not sure how to think about re-doing the calculations if I was using preferences util. So I think it’s consistent to say “I would give up much more than a year of life to keep my child alive” whilst recognising that few (any?) events have a long term impact on happiness, either positive or negative.
I think the results on ‘hedonic adaption’ are much less straightforward than you think they are. In general I’d caution against making strong claims that completely go against common sense about people’s preferences based on just reading a few studies.