I think I got it. Right after the person buys X for $1, you offer to buy it off them for $2, but with a delay, so they keep X for another month before the sale goes through. After the month passes, they now value X at $3 so they are willing to pay $3 to buy it back from you, and you end up with +$1.
Nice.
This also matches my earlier observation that the epestemic failure is of not anticipating one’s change in value. If you do anticipate it, you won’t agree to this money pump.
I think I got it. Right after the person buys X for $1, you offer to buy it off them for $2, but with a delay, so they keep X for another month before the sale goes through. After the month passes, they now value X at $3 so they are willing to pay $3 to buy it back from you, and you end up with +$1.
Nice. This also matches my earlier observation that the epestemic failure is of not anticipating one’s change in value. If you do anticipate it, you won’t agree to this money pump.
Yeah, that looks right! Nice. Thanks!