Rationality Quotes February 2012

Here's the new thread for posting quotes, with the usual rules:

Please post all quotes separately, so that they can be voted up/down separately. (If they are strongly related, reply to your own comments. If strongly ordered, then go ahead and post them together.)
Do not quote yourself.
Do not quote comments/posts on LW/OB.
No more than 5 quotes per person per monthly thread, please.

Here's the new thread for posting quotes, with the usual rules:

Please post all quotes separately, so that they can be voted up/down separately. (If they are strongly related, reply to your own comments. If strongly ordered, then go ahead and post them together.)
Do not quote yourself.
Do not quote comments/posts on LW/OB.
No more than 5 quotes per person per monthly thread, please.

Latest news: Burning Man blames game theory for their failure to understand basic supply and demand, hugely underprices tickets, 2/3 of buyers left in cold, Market Economics Fairy cries.

That's not a fair assessment of the organizers' skill level.

They seem to have a nice firm grip on the effect of fixed supply, fixed price, and increasing demand:

And in those regards, the ticket selection system worked as planned — but it created other unforeseen problems, and most of them boil down to an unpredicted, overwhelming level of demand. The impact of that demand is beyond what we projected when designing the system; even if we knew there were destined to be some people missing out, we didn’t expect nearly so many.

What they didn't predict was ... (read more)

4NancyLebovitz14y

I gather they didn't know how huge the demand would be this year. Burning Man's problem might be a good topic for LW to kick around. Suppose you have pretty good abundance, how do you ration access to excellent social venues without having barriers that do damage to the venues? Is this even possible?

0[anonymous]14y

F*cking Markets, How Do They Work?

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Rationality Quotes February 2012

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Rationality Quotes February 2012

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