Ideas are incestuous.

Ideas are incestuous.

A lot depends on the starting point.

The best practical advice then is: try to maximize your expected payoff, which is the sum of all payoffs multiplied by probabilities.

The art of compromise centers on the willingness to give up something in order to get something else in return. Successful artists get more than they give up.

Most people, even in simple risky situations, don't behave the way the theory of utility would have them behave.

Advice: don't embarrass your bargaining partner by forcing him or her to make all the concessions.