Tag Archives: reasoning

Destruction destroys

tl;dr: Effort expended to re-divide the pie is wasted effort, from the impersonal perspective of economic efficiency. I know! It’s paradoxical, but it’s true. And yet folks (including this blogger) don’t always apply it. The other day I had a … Continue reading

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Lottery losers, raffle winners

Do you like money? Then don’t buy a lottery ticket. The total winnings will fall short of the total revenue from ticket sales (they must–otherwise, how could the government make money from the lottery?), which means buyers as a group … Continue reading

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Rain in Minneapolis

You think it’ll rain tomorrow in Minneapolis, and I don’t. We thus have a disagreement. Moreover, this is a special kind of disagreement–it’s quite easy to find the answer conclusively: All we have to do is wait a day, and … Continue reading

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Frank and Wanda, sunk costs and punishment

Consider my friends Frank and Wanda. Frank’s a frugal fellow. Wanda, on the other hand, is wasteful. Understandably, Frank and Wanda do not get along well. As their mutual friend, I decided to take them both to dinner to see … Continue reading

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All the same to you

Somewhere on the road of life, Yvette and Zereen have come to a fork. Should they go left or right? Yvette is indifferent between the two, but Zereen would prefer to go left. Left it is! Obvious, right? Let’s look … Continue reading

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