[SEQ RERUN] Scarcity
Today’s post, Scarcity was originally published on 27 March 2008. A summary (taken from the LW wiki):
Describes a few pieces of experimental evidence showing that objects or information which are believed to be in short supply are valued more than the same objects or information would be on their own.
Discuss the post here (rather than in the comments to the original post).
This post is part of the Rerunning the Sequences series, where we’ll be going through Eliezer Yudkowsky’s old posts in order so that people who are interested can (re-)read and discuss them. The previous post was Is Humanism A Religion-Substitute?, and you can use the sequence_reruns tag or rss feed to follow the rest of the series.
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Not sure how much this post has to do with the economic fact of scarcity. Seems like it would be very easy to mistake actual rationality based on economic knowledge for this bias.
Or even an instinct that evolved because of said economic fact.