The Archives

Everything written by Jim Harper on law, economics, and more

Truth Markets and Their Discontents

Markets might be able to price truth. Whether anyone wants to buy it is another question. In a recent post, we looked at a small cluster of systems that try to use markets to correct misinformation. Start with a simple analogy: bad information is a kind of pollution, a familiar problem in law & economics. ... Truth Markets and Their Discontents

100% Guaranteed (Not a Guarantee): Putting a Price on Truth

In a seventh-season episode of The Simpsons, Bart tunes in to the Impulse Buying Network and spends $350 on an animation cel from The Itchy & Scratchy Show. As part of the pitch, an IBN huckster proclaims: “Each one is absolutely positively 100% guaranteed to increase in value!” An immediate disclaimer follows: “not a guarantee.” ... 100% Guaranteed (Not a Guarantee): Putting a Price on Truth