Perverse Incentives, Unintended Consequences, and How You Make Policy: The Cobra Effect, Horseshoe Theory, & Barbera Streisand
Game Theory
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Barbara Streisand's Mansion on a Cliff
Barbara Streisand's house is on a cliff in LA, right? Roll your eyes obviously. It looked like there was going to be a there was coastal erosion in that her house might fall into the sea and like I have this rule in my house. Water is undefeated. It will win every fight always forever. All the glaciers and mountains you'll have water is undefeated. So if there's a house on a cliff, it will be going into the water. Will it happen in a hundred years? Maybe. Will it happened in a million years? Maybe it will beGoing into the ocean. The photographer Kenneth Adelman sold the picture for $50 million because Barbara Streisand
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