New Economy Plan!

[Clodius Albinus]

All of my worthless and soon-to-be non-existent funds to the first person who can identify the type of efficiency that results when any of those worsened by a change could, in theory, be compensated by those whose lot has improved without reverting the beneficiaries to their original state or worse!

Posnerian.

My understanding is that the Posner efficiency hypothesis states that common law rules tend toward a sort of utilitarian market optimality. I could be wrong on this, but I didn't have the distinguished jurist in mind in posing this question.

[Sherlock]

All of my worthless and soon-to-be non-existent funds to the first person who can identify the type of efficiency that results when any of those worsened by a change could, in theory, be compensated by those whose lot has improved without reverting the beneficiaries to their original state or worse!

Posnerian.

My understanding is that the Posner efficiency hypothesis states that common law rules tend toward a sort of utilitarian market optimality. I could be wrong on this, but I didn't have the distinguished jurist in mind in posing this question.

No, I don't suppose you did. A shame, since the only other ace up my sleeve was Ronald Coase whose economic theory hardly fits your given scheme of market allocation either.

[JesusIsAlive]

Is watching this edumacated conversation between two most edumacated persons... *isn't understanding a word they are saying...*

[Clodius Albinus]

She refers to the Coase Theorem, which holds that, in the absence of transaction costs, and when working with externalities subject to internalization, an efficient allocation of resources will ultimately result regardless of the optimality of the original arrangement. The Theorem only technically holds in a world quite unlike our own, as we cannot imagine transcending transaction costs (which would include the cost of information, although arguably his definition should make the role of information asymmetry more clear than he does), but if one concludes that as we approach these conditions, we approach the optimality he posits, we can draw certain conclusions about the distribution of select factors.

To provide a concrete example, Coase suggested that you could have the state auction off the radio spectrum without concern for creating an efficient allocation, as transaction costs would be relatively low (only bartering) and the owners of the various bands would quickly sell/trade with each other to create and efficient outcome.

While the theorem and his work on transaction costs probably received the most attention, perhaps Coase's greatest contribution was his writing on the theory of the firm. But that has nothing to do with the question, either.

UPDATE: the "contest" still stands post-reset, but those who care to participate may now turn to Google or other sources, if they wish. After all, you're now playing for about $5.

[Texan91]

To EK:

I have a suggestion, my good sir

We are soo worried about inflation. Who wouldn't be? We have no mandatory expenses!!

Could we not set up a rent? Every three days is payday. Every three days could be rent. $20 or so. I mean really...nobody will like it, but it's the only way to control it I think! You're always *always* going to have inflation when you give the citizens of the ToO $100 every three days, with no amount of it going to mandatory expenses.

As it is, no one has to spend any money unless they so desire. That is a certain cause of inflation.

Another alternative to paying rent would be a cost per post. Not payment. But, this could pose a problem...some people might not post as much. So anyway that much for my ideas! Please do consider them, though. I thought it up for the good of the ToO!

toodles, guys!
Sam

[Homeward bound]

I think something similar was already suggested at some point where you pay to start a new topic (that way we cut down on topics that are repeated or pointless and you only start a topic if you care about it...or something like that), but you still earn money if people post in it, so if it is a good topic, you can earn your fee back. I'm not sure that it will actually happen or anything due to the reason you mentioned or if I'm explaining it correctly, but that was something suggested.

I know SEKHA has several plans to keep inflation down though and are working as fast as they can to implement them. (They're already working much faster than I expected...) We'll just have to be patient and see what they are.

[Laura Ingalls]

I don't know that it would be good to have a fee for posting new topics. It seems like it we would want to promote discussion on a discussion forum, not penalize it.

Of course, I realize this is all speculation at this point - I just wanted to add my voice in here.

[The Top Crusader]

To EK:

I have a suggestion, my good sir

We are soo worried about inflation. Who wouldn't be? We have no mandatory expenses!!

Could we not set up a rent? Every three days is payday. Every three days could be rent. $20 or so. I mean really...nobody will like it, but it's the only way to control it I think! You're always *always* going to have inflation when you give the citizens of the ToO $100 every three days, with no amount of it going to mandatory expenses.

As it is, no one has to spend any money unless they so desire. That is a certain cause of inflation.

Another alternative to paying rent would be a cost per post. Not payment. But, this could pose a problem...some people might not post as much. So anyway that much for my ideas! Please do consider them, though. I thought it up for the good of the ToO!

toodles, guys!
Sam

Rent or income tax or something is good in theory... but... its pointless. If pay day and tax day are both every 3 days... why not just reduce the pay by $20, rather than giving it and taking it away?

And yeah as others have said, it seems a bad idea to penalize discussion on a... discussion board. I can understand as far as when there are 3 topics about the same thing floating towards the top, but still there would seem to be a better way... penalize people for making pointless topics, or something...

[Jennifer Doyle]

Well, it's all clear now. Lame.

[jasonjannajerryjohn]

I must ask, I have gotten my custom job ticket, ek, now what do I do?

[EK]

I must ask, I have gotten my custom job ticket, ek, now what do I do?

Give it to me and PM me with your custom job choice.

[jasonjannajerryjohn]

Never mind, I did with Seha and my nifty new title Pumpkin Pirate!