People are willing to eat at Mickey Dee's Supper Club because it guarantees a certain level of consistent quality all over the world. Even though the average "level of satisfaction" might be lower than if alternatives were tried, people are willing to accept this since they privilege avoiding the worst case scenarios over bettering their average utility.
It's sort of works on the same priniciple as insurance. You lower your average utility in exchange for eliminating the probability of a catastrophic loss.
It's sort of works on the same priniciple as insurance. You lower your average utility in exchange for eliminating the probability of a catastrophic loss.