An interesting point I saw about Walmart-type shops outcompeting high streets - even though everyone always says they love high streets - is that it's a bit like how people sit on their phones and scroll instead of doing something productive, or even how people gamble / drink / smoke when they know they shouldn't. People have conflicting preferences, especially when those differ in the amount of effort they require, or the time. horizon over which they pay off. The stated preference is not invalid because it doesn't match the revealed one.
I'd be interested on your reactions to the essay on the economics of desire and satisfaction on my Substack, which tries to grapple with the same ıssues….
An interesting point I saw about Walmart-type shops outcompeting high streets - even though everyone always says they love high streets - is that it's a bit like how people sit on their phones and scroll instead of doing something productive, or even how people gamble / drink / smoke when they know they shouldn't. People have conflicting preferences, especially when those differ in the amount of effort they require, or the time. horizon over which they pay off. The stated preference is not invalid because it doesn't match the revealed one.
I'd be interested on your reactions to the essay on the economics of desire and satisfaction on my Substack, which tries to grapple with the same ıssues….
Thanks for sharing my comic, Tom!
Hi Chris - didn't realise you were on substack! I've added a link to your substack in the post now