The Collector's Fallacy is closely related to the Exploration-Exploitation Dilemma
The multi-armed bandit problem models an agent that simultaneously attempts to acquire new knowledge (called "exploration") and optimize their decisions based on existing knowledge (called "exploitation"). The agent attempts to balance these competing tasks in order to maximize their total value over the period of time considered.
In the case of the Collector, the "agent" explores indefinitely and adds to their collection but postpones making the decision to do something with it. Wikipedia gives a list of practical applications of the multi-armed bandit problem, but I can't resist pointing out that the problem of deciding which professor's class to take is almost never counted among such lists, perhaps because professors compile them. Someone choosing among Zettelkasten implementations without really settling on one is another.
Given that the multi-armed bandit problem has a name, has been extensively studied since at least the middle of the twentieth century and has been solved in important cases, one question is whether some of these solutions could guide the Collector toward more productive uses of their time.
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