On second thought, strike my second paragraph (in the 10:08 am comment).
I shouldn't have tinkered with the (well-known?) example I first heard. It's a coke machine on a military base that introduced a price increase by dispensing cokes with a lower probability rather than with a nominal price increase. To the soldiers that live and work there, the machine is equivalent to one with a nominal price increase. The philosopher's question is whether this machine is fair to someone who is just passing through, someone for whom there is no long run.
On second thought, strike my second paragraph (in the 10:08 am comment).
I shouldn't have tinkered with the (well-known?) example I first heard. It's a coke machine on a military base that introduced a price increase by dispensing cokes with a lower probability rather than with a nominal price increase. To the soldiers that live and work there, the machine is equivalent to one with a nominal price increase. The philosopher's question is whether this machine is fair to someone who is just passing through, someone for whom there is no long run.
What I mean to ... (read more)