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Congrats on finishing exon 101. Now learn econ 201 where they teach about monopoly and monopsony and why someone having access to more money doesn't mean that p
by fjsolwmv 9y ago
Congrats on finishing exon 101. Now learn econ 201 where they teach about monopoly and monopsony and why someone having access to more money doesn't mean that person derives higher utility from their purchases.
- ikeboy 9y agoCan you point me to an analysis using more advanced tools that concludes that "scalpers" are not welfare promoting? I may have been a bit sloppy talking about utility interchangeably with willingness-to-pay, but it remains true that someone willing to pay more should get it instead of someone willing to pay less, or else the situation admits a kaldor hicks improvement. (There are weird cases with weird demand curves where this may not be true, which is why I specified "reasonable assumptions".)