I agree that econ 101 models are sometimes incorrect or inapplicable. But
I don’t know how much that additional cost is, but seemingly less than the benefit, because three months later, the whole of Germany wants to introduce this card. The introduction has to be delayed by some legal issues, and then a few counties want to introduce it independently. So popular is this special card!
The argument here seems to be that the card must satisfy a cost-benefit analysis or it wouldn’t be so popular, and I don’t buy that either.
I haven’t logged in for three months, so I just read your comment. Sure economics can’t explain everything and cost-benefit analysis is not the only factor affecting popularity (though often the most relevant). Can you be more specific about what do you think makes the card so popular, even if it didn’t satisfy the cost-benefit criterion?
I agree that econ 101 models are sometimes incorrect or inapplicable. But
The argument here seems to be that the card must satisfy a cost-benefit analysis or it wouldn’t be so popular, and I don’t buy that either.
I haven’t logged in for three months, so I just read your comment. Sure economics can’t explain everything and cost-benefit analysis is not the only factor affecting popularity (though often the most relevant). Can you be more specific about what do you think makes the card so popular, even if it didn’t satisfy the cost-benefit criterion?