:lol: :lol: :lol: :lol: :lol:Quote:
Originally Posted by krunktastic
if that's economics then I'm literally a chicken
Printable View
:lol: :lol: :lol: :lol: :lol:Quote:
Originally Posted by krunktastic
if that's economics then I'm literally a chicken
speaking about ecomomics you are almost right. but you are missing one effect.Quote:
Originally Posted by krunktastic
a rare commodity as itself doesn't result in a higher demand. that would mean i could lower my production to raise the demand - nonsense.
from an economic point of view ftn invites would be a typical veblen good.
the veblen effect in general: the higher the price for a good, the higher the demand. (often for high-status goods)
so ftn: demand>supply-->rare good--->higher price--->veblen effect-->higher demand.
since invites are free and don't have a price it's stupid to treat them in economical terms anyway.
so this is just a little excursion.
Free is not necessarily true: the "price" is determined by what people will give for an invite, and in terms of the value, this could be monetary (seedbox) or it could be other invites. In this respect, invites aren't free. When a commodity sits at equilibrium price/quantity and supply goes down, demand increases. Simple as that.Quote:
Originally Posted by Polarbearspeaking about ecomomics you are almost right. but you are missing one effect.Quote:
Originally Posted by krunktastic
a rare commodity as itself doesn't result in a higher demand. that would mean i could lower my production to raise the demand - nonsense.
from an economic point of view ftn invites would be a typical veblen good.
the veblen effect in general: the higher the price for a good, the higher the demand. (often for high-status goods)
so ftn: demand>supply-->rare good--->higher price--->veblen effect-->higher demand.
since invites are free and don't have a price it's stupid to treat them in economical terms anyway.
so this is just a little excursion.
qft. i agree that invites are not free. free would mean that anyone could go get one out of some source. not everyone can get invites, so they are not free.Quote:
Originally Posted by krunktasticFree is not necessarily true: the "price" is determined by what people will give for an invite, and in terms of the value, this could be monetary (seedbox) or it could be other invites. In this respect, invites aren't free. When a commodity sits at equilibrium price/quantity and supply goes down, demand increases. Simple as that.Quote:
Originally Posted by Polarbear
Are you saying the quantity demanded goes up, or the demand itself goes up? It doesn't follow that either should increase just because the supply decreases.Quote:
Originally Posted by krunktastic
not free for the trader, but free for me :PQuote:
Originally Posted by krunktastic
They should be free, that's for sure. Free for me also :PQuote:
Originally Posted by Polarbearnot free for the trader, but free for me :PQuote:
Originally Posted by krunktastic
and how did this turn out to be an argument of economics...I think the OP's questions has already been answered.
Not an argument, a discussion. :happy:Quote:
Originally Posted by Tiantian