Alex wrote:
I suppose one could come up with explanations for why this used to
be non-optimal but now is optimal (I await eagerly) but it seems to me
that what these and other incidents teach (such as the auctioning of
radio spectrum, for example) is that sometimes the best explanation for
Fred Foldvary wrote:
Has any economist in this forum ever offered money to persons ahead of
him to advance in a queue?
I would do it if I thought other people wouldn't assume I was crazy or
grifting. The problem is other people don't understand economics.
Prof. Bryan Caplan
Economist's have long puzzled over why tickets for almost sure to
sell-out concerts aren't sold for more and similarly why amusement parks
don't congestion price their attractions.
Yet, at long last, concert promoters have started to do exactly
this. Prime tickets for the recent Rolling
sometimes the best explanation for why something
isn't done when economics suggests that it should be
done is simply that people don't understand
economics.
I've often wondered if a previously untapped (and
possibly lucrative) avenue in counciling/therapy isn't
'personal optimization.'
