Hi Caspar, thanks for the questions!
1. Yes, there’s definitely some work showing that these errors guide choice, though usually not discussed using the experience vs. decision utility framework (instead, it’s typically described as expected vs. experienced). One example is with the so-called “end of history illusion”, in which people overpay for future experiences (e.g., concert tickets) because they fail to realize that their preferences and feelings will change as much as they actually do. Another example is with medical decision making. Patients often h...
Congratulations, Sjir!