Kakonomics describes cases where people not only have standard preferences to receive a High-quality good and deliver a Low-quality one (the standard sucker’s payoff) but they actually prefer to deliver a Low-quality good and receive a Low-quality one, that is, they connive on a Low-Low exchange.
It is the additional structure to flesh out the ‘just because’ clause of the final sentence. it might not provide a full accounting of such but seems like a very significant piece.
How do you find this concept relevant to the article?
Background for people not familiar with the term:
https://www.edge.org/response-detail/10993
Kakonomics describes cases where people not only have standard preferences to receive a High-quality good and deliver a Low-quality one (the standard sucker’s payoff) but they actually prefer to deliver a Low-quality good and receive a Low-quality one, that is, they connive on a Low-Low exchange.
It is the additional structure to flesh out the ‘just because’ clause of the final sentence. it might not provide a full accounting of such but seems like a very significant piece.