Tuesday, April 1, 2008

No prizes for guessing which one is an Economist.

Just read a fascinating article in Slate. It accurately describes a situation I've gone through with Valerie:

"Friends of mine, a husband and wife, once argued over the price of a packet of cakes bought at a convenience store. She complained that the cakes weren't worth the price she had paid. He pointed out that she had bought them—albeit grudgingly—knowing exactly how they tasted and that, therefore, they had to be worth what she had paid. No prizes for guessing which one of them is an economist."

I give kudos to Valerie for trying to think like an Economist. She has used terms like "zero-sum", "free trade", and others (correctly!); her willingness to wade into the world I work/think in means a lot to me. It is quite a shock to me when she points out that I have fallen for the "sunk cost" fallacy!

Now I just need to learn how to appreciate the more subtle aspects of graphic design!

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