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The Price of Fish: A New Approach to Wicked Economics and Better Decisions by Ian Harris, Michael Mainelli

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7 THE PERVERSE AND THEREVERSE: MEASURES AND FORECASTS

Why do measures matter? Imagine a world without commercial measures. You are ready to buy a fish, but without a measure you don’t know how much fish you need, and you have no idea whether the amount you’re told you’re being sold is correct. And is the currency you’re using valid, of value, convertible, at what rate? If it’s a wholesale fish trade, perhaps you have no idea who the counterparty really is, who vouches for that party, what the payment terms are, or where disputes will be adjudicated. A market without measures is a market without reason, yet ill-thought-out measures can lead to perverse outcomes and increased uncertainty. So measures do matter.

Around 450 BC, Protagoras of Abdera, ...

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