Perhaps the deepest insight that comes from thinking about later life as a chance to exploit knowledge acquired over decades is this: life should get better over time. What an explorer trades off for knowledge is pleasure. The Gittins index and the Upper Confidence Bound, as we’ve seen, inflate the appeal of lesser-known options beyond what we actually expect, since pleasant surprises can pay off many times over. But at the same time, this means that exploration necessarily leads to being let down on most occasions.
