3 ms·
chains are predictable. less risky: your expectations are stable and accurate.
by your-nanny 8y ago
chains are predictable. less risky: your expectations are stable and accurate.
- yellowapple 8y agoAnd if those expectations are predictably and accurately poor?
- your-nanny 8y agoit's just math. you have your typical concave risk averse utility function, and you measure the difference in expected utilities between a low variance option and a high variance option, feed into softmax hoila
- darkerside 8y agoExpectations are more stable, but that doesn't mean the underlying product is at all stable and consistent.
- your-nanny 8y agoI've a friend, a high end foodie. he proposes to use the big Mac as the international standard/reference point for burger quality. that would t be possible unless the big Mac basically tasted the same at pretty much every mc Ds
- tszymczyszyn 8y agoThis is a very strange point of reference for a foodie, as McDonald's burgers are not even remotely close to anything tasty.
- meowface 8y agoMy experience with coffee chains is the chains are predictably mediocre or bad, and the small shops are less predictable but on average generally much better than the chains (with the occasional place that's a lot worse than the chains, but this is rare from my experience).
- your-nanny 8y agocould be, but for risk averse people (most people) the variance matters.