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by allenz 2969 days ago
> Once they figure it out, they'll price this person as a person, and he won't be able to swing it as dramatically.

Ronald Coase, of Coase theorem fame, believed that markets are rarely efficient: "Coase argued that real-world transaction costs are rarely low enough to allow for efficient bargaining and hence the theorem is almost always inapplicable to economic reality."[1] In this case, the inefficiency persists because the costs of implementing a more detailed model would far exceed the benefits.

[1] https://en.wikipedia.org/wiki/Coase_theorem