it is annoying me more than it should that the blue check econ does not, in fact, know what a revealed preference is. how does he know that if burb dweller had 4mil he wouldn't buy 4mil of suburb? he doesn't. idiot. revealed preference is *spent* money. not dreams.
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This. Was going to reply to him but he's so far off it's not worth it.
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@AlanMCole isn't an idiot. He's arguing that there IS a revealed preference for basket A over basket B, but that doesn't mean that there is a revealed preference for item a1 over item b1. Which is both coherent and correct, IMO.2 replies 0 retweets 2 likes -
I know he isn't an idiot, I'd just have him blocked. he's being one though. you don't like burgers more than steak, you like burgers *and ten bucks* duh, revealed preference. he'd be laughed out of the room if it wasn't property
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Except changing zoning codes has the potential to - in this analogy - make steak cost more like burgers. ...which is worth pointing out. Alan is saying that most people AREN'T considering the basket...nor considering the basket can be modified. IMO
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If this is simply the argument (he is free to correct), it looks like another example of what I like to refer to as the ceteris paribus fallacy. It's a narrowly useful tool that I see economists misuse when it suits their personal policy preferences.
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to some degree it IS ceteris paribus, but ... he's just calling people's attentions to the fact that baskets are baskets. So I don't see it as a fallacy. Imagine if there was a law that every gas powered car had a speed limiter at 25 mph, and someone said >>>
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"95% of people choose electric cars. That's revealed preference that electric cars are better / that's what they really want." a red tribe member might say "no, given electric-plus-no-speed-cap vs gas-plus-speed-cap, they prefer the former ... you have not proven your claim
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and I'd agree w that red triber that his argument was well formed - just as I'm agreeing w Alan who is arguing for cities (which I dislike) that HIS argument is well formed.
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I've said before (and I believe you were in the thread) that 'revealed preference' is a bad name but it's a narrow concept, and you can't compare and conflate with /preferences/ which is why it's a bad name "real choices" expresses it better and avoids the trap /
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I suggest we renamed "revealed preference" to "gate" and "real choice" to "wing". That will surely make this easier to reason about.
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