Archive for June 27th, 2013
Economics 1.01
The publication of this book confronts me to THE elementary issue at the core of economics: how to best allocate scarce resources?
My editor has sent me 10 free copies of the book. What shall I do?
Option 1 => Auction them, and let the market decide;
Option 2 => Reward friends, out of my political discretion. This option is tricky. Assuming I have more than 10 friends (I guess I have), how to pick those that should receive the book without p****g off disincentivizing other from being my friends?
Option 3 => Reserve part of them for the university library out of “universal service” considerations + sell the remainder
Option 4 => Do nothing, and shelve them, like a lazy monopolist
Chillin'Competition 