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 Originally Posted by Poopadoop
Sure, you can assume there's a range of reactions between 1= completely devastated and 10 = being happy they're gone I guess.
But your data aren't on any sensible linear scale that could be analysed. And even if they were, how do you convert them to a dollar value?
Of course it's impossible to have a all encompassing model. That model would require more energy than is present in the universe. What we can do is do our best to model these things, and in doing so we can better approach the best answers to tough questions.
Honestly, I think a big problem with economics when applied to this sort of thing is that those attracted to the field probably skew towards the sociopathic(not using this as a pejorative) end of the spectrum. And so more empathetic points of view aren't modeled.
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