Coase, the Rules of the Game, and the Costs of Perfection (with Daisy Christodoulou) 2/3/25

Surely perfection is better than imperfection. But applying technology
to improve decision-making can backfire. Listen as ed-tech innovator
Daisy Christodoulou and EconTalk’s Russ Roberts talk about the costs of
seeking perfection when technology is used to improve refereeing in
sports. They also talk about ways to embrace imperfection and how the
economist Ronald Coase can help us understand the power of the rules of
the game, both in sports and in life.
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[@FacelessProjects]

As a UK fan who rages against the inevitable imposition of VAR on my favourite spectator sport, I loved this episode! 🥰
Beyond validating my esoteric frustrations with VAR, Daisy was a spectacular guest! I could listen to you guys talk for many more hours.

[@patricksullivan4329]

This topic is much more rigorously elucidated in Thomas Sowell's magnum opus, 'Knowledge and Decisions.' Which is itself an expansion of Hayek's 'The Use of Knowledge in Society.'

[@2DXYSU]

This issue applies to every choice I make from what to have for breakfast to who I marry. It only becomes fraught when the choice is being made by a monopoly institution like the Premier League. Change happens more smoothly in a world of competitive options.