Mass_Driver comments on Rationality Quotes February 2012 - Less Wrong
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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:
What they didn't predict was that the expectation of scarcity would further increase demand, creating a positive feedback loop. In their words:
So, they understand supply and demand (they just made a bad factual estimate of demand), and they didn't really understand game theory - but after they made their mistake they publicly admitted it, asked around to see what they did wrong, and proposed strategies for mitigating the mistake.
Why are we mocking them again?