This is somewhat related to an article I wrote about epistemology. Economics is in that category with one foot in the hard sciences and one foot in the social sciences. The soft social sciences have a huge problem with this, going off theory and doing very little well does experiments. We need to use the real world experiments of different culture groups to see how things work out in real life. We are getting further and further in the wrong direction by being all theory and no real world consequences. https://open.substack.com/pub/moralgovernment/p/10-reasons-to-or-not-to-believe-things?r=12fk1m&utm_medium=ios&utm_campaign=post
Might the airline issue be a matter of not all flights being overnight? Airlines use the same planes for repeated trips at all potential hours of the day and night. So a dedicated sleeper with less passenger space would be wasteful during the day, and perhaps even a significant negative for passengers who don't want to be asleep.
Another way looking at it is that the second scientist is more likely to be overfitting.
Regarding the Austrians, you are of course correct, as illustrated recently by your debate with Block.
However, I have a lot of sympathy for them in this age of overfitters, when data is molded to fit any narrative, be it COVID lockdowns, absurdly high minimum wage laws, bank bailouts, etc.
"We" is not a homogeneous "we". Some believe theory 1, others theory 2. Theorist 1 has a certain "reputation" for making correct predictions. Reputation is not foolproof. There may be other reasons and motivations to trust theory 2 more.
If there were a "rational", holistic, inescapable decision-making mechanism, there would be no more believing and deciding. Such a mechanism is dead or frozen non-choice. Contingency opens up the possibility of choice. Prediction always requires belief. Because the future is unknowable, there can be different predictions or imaginations or versions of the future. Of course, prediction matters. It is essential part of every action. But people aim in different directions at different imagined or extrapolated futures. The future is subjective :).
Some long-haul airlines do offer beds in economy class. Air New Zealand for instance:
https://www.businessinsider.com/flew-on-worlds-4th-longest-flight-in-revolutionary-skycouch-review-2022-10
This is somewhat related to an article I wrote about epistemology. Economics is in that category with one foot in the hard sciences and one foot in the social sciences. The soft social sciences have a huge problem with this, going off theory and doing very little well does experiments. We need to use the real world experiments of different culture groups to see how things work out in real life. We are getting further and further in the wrong direction by being all theory and no real world consequences. https://open.substack.com/pub/moralgovernment/p/10-reasons-to-or-not-to-believe-things?r=12fk1m&utm_medium=ios&utm_campaign=post
Might the airline issue be a matter of not all flights being overnight? Airlines use the same planes for repeated trips at all potential hours of the day and night. So a dedicated sleeper with less passenger space would be wasteful during the day, and perhaps even a significant negative for passengers who don't want to be asleep.
Another way looking at it is that the second scientist is more likely to be overfitting.
Regarding the Austrians, you are of course correct, as illustrated recently by your debate with Block.
However, I have a lot of sympathy for them in this age of overfitters, when data is molded to fit any narrative, be it COVID lockdowns, absurdly high minimum wage laws, bank bailouts, etc.
"We" is not a homogeneous "we". Some believe theory 1, others theory 2. Theorist 1 has a certain "reputation" for making correct predictions. Reputation is not foolproof. There may be other reasons and motivations to trust theory 2 more.
If there were a "rational", holistic, inescapable decision-making mechanism, there would be no more believing and deciding. Such a mechanism is dead or frozen non-choice. Contingency opens up the possibility of choice. Prediction always requires belief. Because the future is unknowable, there can be different predictions or imaginations or versions of the future. Of course, prediction matters. It is essential part of every action. But people aim in different directions at different imagined or extrapolated futures. The future is subjective :).
By chance, I found a Youtube video about an overnight bus in Japan that provides sleeping quarters. Apparently, fits 11 people to a bus.
https://www.youtube.com/watch?v=E1sxGSiAG70
Were any of the Austrians at the event convinced?
Why do they not add cheap sleepers? Probably because
„Business class cost about eight times as much as economy, first class something like twice that.“
And presumably these sell, and sell well, or they would increase the size of economy.