Arnold Kling says "The answer is always price discrimination"
Michael Munger says "The answer is always transactions costs"
What say you?
"The answer is always irrationality."
Both! Self-help advice is useful in large part because people screw up even when they do have high stakes. But low-stakes decisions are far worse.
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Arnold Kling says "The answer is always price discrimination"
Michael Munger says "The answer is always transactions costs"
What say you?
"The answer is always irrationality."
Both! Self-help advice is useful in large part because people screw up even when they do have high stakes. But low-stakes decisions are far worse.