How good are decisions?

1 · Dan Luu · Nov. 21, 2017, midnight
A statement I commonly hear in tech-utopian circles is that some seeming inefficiency can’t actually be inefficient because the market is efficient and inefficiencies will quickly be eliminated. A contentious example of this is the claim that companies can’t be discriminating because the market is too competitive to tolerate discrimination. A less contentious example is that when you see a big company doing something that seems bizarrely inefficient, maybe it’s not inefficient and you just lack ...