Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10.2 9/18/84; site pedsgd.UUCP
Path: utzoo!watmath!clyde!burl!ulysses!mhuxr!mhuxn!ihnp4!houxm!vax135!petsd!pedsgd!bob
From: bob@pedsgd.UUCP (Robert A. Weiler)
Newsgroups: net.politics.theory
Subject: Re: The free market
Message-ID: <313@pedsgd.UUCP>
Date: Sat, 12-Oct-85 19:12:31 EDT
Article-I.D.: pedsgd.313
Posted: Sat Oct 12 19:12:31 1985
Date-Received: Mon, 14-Oct-85 04:36:55 EDT
References: <3973@topaz.RUTGERS.EDU>
Reply-To: bob@pedsgd.UUCP (Robert A. Weiler)
Organization: Perkin-Elmer, Tinton Falls, NJ
Lines: 21
Summary: 

Organization : Perkin-Elmer DSG, Tinton Falls NJ
Keywords: 

In article <3973@topaz.RUTGERS.EDU> josh@topaz.UUCP (J Storrs Hall) writes:
>In article <206@gargoyle.UUCP> carnes@gargoyle.UUCP (Richard Carnes) writes:
{ a parable about car dealers, prospective buyers, and their assumptions }

>With a few minor modifications, the model reduces to gambling,
>in which people pay for an unknown quantity with a mathematically
>expected value below the fixed price.  If we were to believe the logic,
>gambling would not occur.  But people gamble routinely for expected
>payoffs of less than 50%!!!  
>----
> JoSH

All you have proven here is that real people routinely behave irrationally,
which doesnt seem to fit the Libertarian mold too well.

Bob Weiler.