There exists an enchanted amulet. It currently sells for $1,000,000. Why? Well, it has a curious but wonderful property. If you manage to sell it to someone else for less than its original price then you go to heaven. Alas, it also has a curious but horrible property. If you fail in your attempt to sell it, you go to hell.
Assume that the amulet can only be sold for a whole number of dollars.
Question: Would you buy it at its current price? If not, at what price? What is the lowest value you would be prepared to buy the amulet for?
Under the following two assumptions, I would not buy it at any price:
1) giving it away for 0£ is not a valid 'sale'
2) the population I am dealing with is at least as clever as I am.
Why? Reasoning back from a purchase of 1£ the person could not get rid of it, and therefor would not buy it. The same holds for the person who gets the offer at 2£ , 3£, etc. ...
Gambling a bit, using my inside knowledge on the RHP population, I would buy it and be pretty sure I find a customer for it, perhaps even with a huge gain 😀
edit. even assumption 1 is not needed.
Originally posted by Mephisto2This is why I think the question is interesting. Among perfectly rational beings, say Vulcans, no one would buy the amulet at any price. But because we know that other humans are irrational, we know we may in fact get a buyer for the amulet, a buyer who uses exactly the same logic!
Under the following two assumptions, I would not buy it at any price:
1) giving it away for 0£ is not a valid 'sale'
2) the population I am dealing with is at least as clever as I am.
Why? Reasoning back from a purchase of 1£ the person could not get rid of it, and therefor would not buy it. The same holds for the person who gets the offer at 2£ , 3 ...[text shortened]... d a customer for it, perhaps even with a huge gain 😀
edit. even assumption 1 is not needed.
So what's the lowest price you think you could sell it for here at RHP? And to whom???
Originally posted by PawnokeyholeRBHILL
This is why I think the question is interesting. Among perfectly rational beings, say Vulcans, no one would buy the amulet at any price. But because we know that other humans are irrational, we know we may in fact get a buyer for the amulet, a buyer who uses exactly the same logic!
So what's the lowest price you think you could sell it for here at RHP? And to whom???
Originally posted by jimmyb270I don't think money's the issue here. I mean, if there was a heaven, you shouldn't be able to buy your way in. That should just send you to hell.
You're all missing the point of salesmanship. You don't have to tell them that this amulet sends you to heaven if you sell it at a lower price. Just tell them it's a cheapo gold-plated necklace and flog it to them for a tenner.
In the end, someone won't be able to sell it. Should they spend an eternity in hell for your ass? I don't think so. That's just wrong on all accounts.
Sorry if no one got the sarcasm in my previous post.
Assuming you have the million available, you buy it sell it to your buddy for $5, he then sells it back to you for $4, and you then resell it for $2,000,000. Your buddy goes to heaven, and you walk away with the same fate you walked in with (since one assumes you can't go both to heaven and hell), and an extra million in your pocket.
