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Showing posts from August, 2016

Tragedy of the Olympic Commons Burger Feast...

Turns out, according to Newsweek, that Olympians have induced a miniature tragedy of the commons at the Rio Olympics. Basically McDonald's opened an outlet that serves athletes for free. Guess what happens next. Yep, overuse. McDonald's has imposed a 20-item limitto avoid running out of stock before it can be sold to non-athlete patrons.

Non-price rationing is, believe it or not, not all that efficient.