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 don’t know anything about the card. I haven’t re-read the post, but I think the point I was making was “you haven’t successfully argued that this is good cost-benefit”, not “I claim that this is bad cost-benefit”. Another possibility is that I was just pointing out that the specific quoted paragraph had an implied bad argument, but I didn’t think it said much about the post overall.
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?
I don’t know anything about the card. I haven’t re-read the post, but I think the point I was making was “you haven’t successfully argued that this is good cost-benefit”, not “I claim that this is bad cost-benefit”. Another possibility is that I was just pointing out that the specific quoted paragraph had an implied bad argument, but I didn’t think it said much about the post overall.