can someone explain why its ok to overbook flights in the first place? like its hundreds of dollars and theres literally assigned seats wtf
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Replying to @Tipsycaek
Same reason if 20 people say they're coming to your party, you expect 15
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Replying to @Aella_Girl
after enough times being proven wrong i feel like one would change their expectations?
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Replying to @Tipsycaek
It's a business thing - the money they lose from compensating ppl for overbooking is less than what they'd lose if they didn't overbook
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Replying to @Aella_Girl @Tipsycaek
exactly this, here's MR take with a longer linked piece http://marginalrevolution.com/marginalrevolution/2017/04/today-good-day-remember-great-julian-simon.html … it's clever and generally efficient, they just fucked it up
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Replying to @eigenrobot @Aella_Girl
it seems like theres maybe a middle ground between "deliberately underfilled" and "every flight ive been on has to bump five people"
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Replying to @Tipsycaek @Aella_Girl
ummm intuition boring + too long for twitter but bumping a handful of people regularly might be optimal, especially with the reverse auction
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what's super-fucked here (strictly econ-wise) is that they canceled the auction at $800 and just randomly selected a passenger to kick off
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like if the airline fucks up booking fine but they should bear the cost of their error by fully compensating passengers for broken contract
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