I have written before about how education trains us to think in a specific way. Back then, I mentioned that I like to follow the maxim of Carl Jacobi to “invert, always invert”. By teasing out from market prices the assumptions needed to justify these prices, you can learn a lot about these prices.
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Invert, always invert – the Covid-19 edition
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I have written before about how education trains us to think in a specific way. Back then, I mentioned that I like to follow the maxim of Carl Jacobi to “invert, always invert”. By teasing out from market prices the assumptions needed to justify these prices, you can learn a lot about these prices.