Wednesday, May 11

"Competition: An Inspirational Marketing Tool," by Eric Waarts

I have not read the article in its entirety, so I cannot yet comment on it's substance. But I do enjoy the opening quotation in the paper:
Two hunters are walking in a forest, when they suddenly come face to face with a savage, hungry-looking bear. One of the hunters quickly puts on a pair of sneakers, whereupon the other hunter asks, ‘Why are you doing that? The bear can outrun us anyway, can’t he?’ To which the first hunter replies,‘But I don’t have to run faster than the bear, I only have to run faster than you!’

Does not this effectively capture the important incentive properties of competition, and the abject amorality of these incentives? No wonder they call economics the dismal science. Link

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