Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Wednesday, August 10, 2005

Trade-Offs: How Much Would It Take to Get You to Miss Your Son's Wedding?

My younger son, Adam Smith Palmer, is getting married soon. We're all looking forward to the big event.

The other day, I received a request from a producer to do some acting the same day as my son's wedding. Of course I declined the offer................

................ but then I got to wondering, "What if the acting gig had involved a considerable amount of money [in my dreams!]? How much would they have had to offer me to get me to miss the wedding?" I don't know, but I expect my reservation price is very high.
Nevertheless, for $10m, I would give it serious consideration, especially if he and his bride were willing to be bribed not to have me there (i.e., if I could share some of the earnings with them).

I know some people who think Adam and his bride should bribe me not to show up anyway....
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