brazil84 comments on Three Parables of Microeconomics - LessWrong

25 Post author: jimrandomh 09 May 2014 06:18PM

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Comment author: brazil84 10 May 2014 09:10:36AM 6 points [-]

Moral: Gas station attendants should study game theory.)

I suppose the meta-moral is that one should be wary of thought experiments based on idealized simplified scenarios.

As they say, in theory there is no difference between theory and practice. But in practice there is a big difference between theory and practice. Or, as the punchline goes in the old joke about the economist on a desert island: "Assume we have a can opener."