As aesthetic judgements, this sort of terms can't be described as objetively wrong, but when using them we shouldn't forget that every time we buy a cheaper good leaving the producer of a more expensive one without a gain, every time we "betray" the firm we worked in by moving to another which pays us better, and in sum every single time we choose an option necessarily leaving others, we become part of that very cruelty and wilderness we are complaining of.
Tuesday, February 24, 2009
Thursday, February 12, 2009
Coase Theorem of the use of resources re-expresed in terms of information
Even if you have the possession on some resource, it could be that the cost of using it be so valued by you that you prefer to leave it to other agent's control.
The more knowledge the other agent has on how to use the resource in order to give utility directly to you or to someone else which can pay something you value more than the resource itself, the more possible that you prefer to leave the resource to that other agent.
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