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I think this kind of thing was also called "obfuscation"
By communists, I imagine
Maybe, but I saw it used as a technical term in IO papers. It's basically where products are made hard to understand as a way of increasing producer surplus, and how competition doesn't necessarily prevent that.
I think this is more like coupons than obfuscation, but there’s a bit of both in play.
In a world of men who are overconfident in their aptitudes on average, I suspect this sort of arrangement is resilient to competition.
yup, consumer inattention (like in the Levine pieces). An area where the leftists are accidentally correct?!
which naturally increases producer surplus.
I guess "scammy" was a neat description then!
I guess. It’s not much different from offering coupons that require some work to use.
I usually think about things like this as introducing a degree of price discrimination, which naturally increases producer surplus.