[DanBC]

People are hopeless at assessing risk. They'd go for lower cost every time, thus regulation is needed to protect them from themselves.

(But I'd agree that a $12,000 cosmetician course is too much for people who only want to braid hair.)

[mhaymo]

They'd go for the cheaper option until someone is actually injured by that place, then they'd abandon it immediately. This seems like a fine system.

[DanBC]

The popularity of uninsured unlicensed taxi cabs, even though people get injured and can't pay for the medical treatment, argues against you.

It's weird that HN thinks humans are rational - there are so many examples of irrational behaviour.

[mtviewdave]

Not for the person who is injured.

[mnglkhn2]

Value is relative and it is in the eye of the beholder, much like beauty. Where I want to get is that 12k might sound much but in US the same people would pay almost double sometimes for a car.