Peter Norvig's Economic Simulation (2018)

Re:Peter Norvig's Economic Simulation (2018) by evanpw on Saturday February 22, 2020 @09:31AM (#22391205)

You'll only pay $X for a good if it's worth at least $X to you, so in the absence of perfect price discrimination, that trade is also positive-sum: https://en.wikipedia.org/wiki/Economic_surplus#Consumer_surp...

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Re:Peter Norvig's Economic Simulation (2018) by g_langenderfer on Saturday February 22, 2020 @10:16AM (#22391393)

In other words, if a banana costs $1 and I buy it, its value to me is at least $1

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Re:Peter Norvig's Economic Simulation (2018) by sjg007 on Saturday February 22, 2020 @10:25AM (#22391436)

That’s an illusion if you can’t use it directly to make more money. In the abstract sure it’s positive value but for this simulation or any simulation it doesn’t matter.

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