this assumes two rational actors- are they required to bid in teh 1st place? can they just be observers? lolI'm reading about a hypothetical scenario called the dollar auction lately.
Two rational actors are both in an auction for a dollar bill. The rules are simple:
1. Each bid has to be higher than the previous bid.
2. Each actor has to pay their bid at the close of the auction, regardless of if they win or lose.
The result is interesting. Think about it. The first actor has an incentive to bid $.01 (and gain $.99, the second has an incentive to bid $.02, and gain $.98 ... When the second actor bids $1.00 (the value of the dollar), the first actor is facing a loss of $.99, and has a very rational incentive to bid $1.01 - reducing his or her loss to $.01. Of course, then the second actor has a rational incentive to bid $1.02, reducing his or her loss to $.02...
I'm trying to think of a real-world scenario in capitalism.
why on earth is this something you've been 'thinking about lately'?
... they said this like it was a bad thing?One time we had an anti-abortion group set up huge (I'm talking 10 feet tall) pictures of aborted fetuses with captions like... "I could have been President"
Everyone ignores them for the most part and ive never seen anyone actually stop and listen, but it doesn't seem to phase them. Sometimes someone will boo them or something.
Their message is not one of love or compassion. They mostly just yell about how we're all sinners and we need to submit to jesus or burn in the fires of hell. Ive heard them bashing gays, women, muslims ect multiple times, pretty sickening.
Or Leviticus 19:19
"Do not wear clothing woven of two kinds of material."