Classic Paper

Once in a while I get all nerdy and read some papers if only to see some wisdom in them will rub off me. Today's paper that gave me some deep insight (which happens only when comprehension driven research intersects that of utility driven) was this classic for which the author got a Nobel in Economics. Well Deserved! 

For those of you who skipped the paper it essentially boils down to the fact that best effort service is on average quite a bit less than the guaranteed service(the former optimizes the system while the latter is a local optimum for an individual). Basically helped me understand why certain companies were in business (like certified pre-owned market in cars..because otherwise even though there are buyers willing to buy and dealers willing to sell, the market does not clear.)