economics

March 7, 2010

How to Save $148 On an iPod Touch

Filed under: Uncategorized — ktetaichinh @ 9:09 pm
Tags: ,


This is so brilliant, and so very wrong. Some poor soul in Baltimore has lost her iPod Touch, offering a $50 reward for its return. And some Bad Samaritan knows a bidding opportunity when he sees one.

Of course, the $148 estimate is just for an 8GB Touch. When you get into 64GB territory, you’re looking at a grand savings of $348! I don’t know exactly where these signs are posted, but that’s probably for the best—it’d take no time at all to whip up my generous offer of $51.01. [The High Definite via The Daily What]

nutbastard 03/04/10

my iPod has a note under the case that gives a phone number and says i’ll buy you the exact same iPod if you return mine to me. Reply
See 0 reply Hide 0 reply

Were I the person who found the device in question…I’d hold out for at least $75. Reply

The Price is Wrong Bitch!
I wouldn’t return it to Mr. $51 because he’s one of those Price is Right asses. Bidding $1 is such a dick move. Be a man and make a real bid! Reply

The REAL genius would be if the $51 offer was the real (and first offer), and the $50 was an attempt to APPEAR as the real offer by being overbid by the other offer! Reply

No economists in the house?

Since an iPod Touch is worth more than $50, clearly someone would only return it for the pleasure of being a good samaritan. (And since they haven’t returned it already, that pleasure must be worth less than about $150.) But that pleasure is lost if the returner thinks they are giving it back to the wrong person. Therefore, they would only give it to the person they thought was the real owner, which in this case, is clearly the lower bidder. But if the scammer realized that, he should offer $49 for it, making himself appear to be the true owner. But knowing that, the true owner would have to offer $48. And so on, until it is clear than no public offer of a reward for lost merchandise is equilibrium stable without proof of prior ownership. Oh well. Reply

Zanzan42 promoted this comment

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: