The economics of luck
Via the ever-excellent Jan Chipchase, lucky phone numbers for sale:
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Unless what is deemed to be a lucky number changes over time, the supply of lucky numbers is fixed, so the price should be determined by demand. I wonder how the willingness to pay for luck changes with income? Presumably there is a positive correlation, but perhaps at some point you get rich enough that you figure you don’t need luck any more? Or maybe not, maybe people are always willing to pay for luck as some kind of cosmic insurance?
And how does the price of luck change over the economic cycle? Are people willing to pay more for luck in hard times or are they constained by lower income?
I’m sure there’s a PhD thesis here …
One Comment
Fun post. ;-)