Yesterday marked the end of the 2008 college football season. As per our bet, and with Texas less than 8 spots behind USC (although they did indeed finish behind), Kristin can go buy herself a pair of jeans. While it may seem that I have actually lost the bet, the end result is that this should have zero net effect on Kristin's total jeans collection, and thus zero monetary effect. Here's why:
Whenever Kristin goes out and buys an article of clothing, it is always because she "needs" it. Never has she bought something merely because she simply wants it. So with her buying this pair of jeans (which she may or may not need), her future need for jeans should decrease by one pair. (I should have probably drawn some supply and demand curves here for your reference.)
Therefore, while in the short-term there may be an extra pair of jeans and a related cost, in the long-term this shall have no net effect on Kristin's jeans collection or our finances. Therefore, while I may have technically lost the bet, I really lose nothing, unless of course she's been lying to me all along about her "need" for clothes.
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2 comments:
I love reading your blog... ;)
Funny, whenever I buy a pair of jeans, Patrick says I'm spending the kids inheritance.
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