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I think I'd actually say it has a "reverse network effect" (oh, christ, i hate talking like that). Seriously, though, allow me to illustrate: If the value of
by encoderer 17y ago
I think I'd actually say it has a "reverse network effect" (oh, christ, i hate talking like that).
Seriously, though, allow me to illustrate:
If the value of $1MM to you is N.
And you add a second $1MM.
The value is almost certainly going to be less than 2N.
- adw 17y agoWe're talking about the utility function of money. With enough money, it's definitely the case that it goes down, but I think it goes up faster than the apparent value for a bit as well. £20k is more than twice as useful as £10k is more than twice as useful as £5k. Where the crossover is, though...