Sundray@lemmus.org to You Should Know@lemmy.worldEnglish · 2 days agoYSK: Regulations don't exist because governments like them...lemmy.worldimagemessage-square120fedilinkarrow-up11.61Karrow-down125
arrow-up11.59Karrow-down1imageYSK: Regulations don't exist because governments like them...lemmy.worldSundray@lemmus.org to You Should Know@lemmy.worldEnglish · 2 days agomessage-square120fedilink
minus-squareWanderingThoughts@europe.publinkfedilinkarrow-up61arrow-down1·1 day ago wouldn’t buy that brand anymore so they would never do it again Assuming there is perfect information in the market. In reality there is heavy information asymmetry. It also assumes free competition while we have every market dominated by a few players buying up everyone else, often with cartel like behavior.
minus-squareRobust Mirror@aussie.zonelinkfedilinkarrow-up34·1 day agoIt also assumes it is immediately deadly poison, and doesn’t do something like cause early dementia 25 years later.
minus-squareTeamAssimilation@infosec.publinkfedilinkarrow-up21·edit-21 day agoIt also assumes the masses behave rationally, which they won’t ever. We’ll just get the cheapest shit with the limited information we are given, unless it is life-or-death, where we will pay any price out of fear.
Assuming there is perfect information in the market. In reality there is heavy information asymmetry.
It also assumes free competition while we have every market dominated by a few players buying up everyone else, often with cartel like behavior.
It also assumes it is immediately deadly poison, and doesn’t do something like cause early dementia 25 years later.
It also assumes the masses behave rationally, which they won’t ever.
We’ll just get the cheapest shit with the limited information we are given, unless it is life-or-death, where we will pay any price out of fear.