No they don't. In theory, yes. In practice, people are not rational animals. My description was not theoretical, it happened to the Trump casino/hotel. There was a big to do about it, the lady never sold. He offered her 5 million for her shithole.

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Posted by SlowFlowPro

Simple Solutions to Complex Probs

Member since Jan 2004

424964 posts

Posted on 1/12/17 at 12:36 pm to cokebottleag

quote:
people are not rational animals.

so how do free markets work?

quote:
it happened to the Trump casino/hotel. There was a big to do about it, the lady never sold. He offered her 5 million for her shithole.

obviously $5M was not her number

*ETA: and you're using a BAD example to defend eminent domain

This post was edited on 1/12/17 at 12:37 pm

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Posted by MrCarton

Paradise Valley, MT

Member since Dec 2009

20231 posts

Posted on 1/12/17 at 12:39 pm to cokebottleag

quote:
well i mean everyone has a number

No they don't. In theory, yes. In practice, people are not rational animals. My description was not theoretical, it happened to the Trump casino/hotel. There was a big to do about it, the lady never sold. He offered her 5 million for her shithole.

everyone doesn't need a number, but humans are rational actors. That is the basis of economic activity. you may not have the same rationale, but it doesn't make thr other party "irrational".

In fact, you even told us what Mrs. Persimmons rationale was in your example.

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Posted by Walking the Earth

Member since Feb 2013

17260 posts

Posted on 1/12/17 at 12:45 pm to cokebottleag

I don't agree with cokebottle a lot but he's clearly got his finger on the pulse of both human nature and behavioral economics better than anyone else in the thread so far.

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