dating apps where people could signal their wealth by buying the most expensive virtual good available.
This is a Molochian race to the bottom, similar to a dollar auction. The items have value to people, but only insofar as they have more of them than others. The people overall are therefore not better off for having these items, because the signalling game is zero-sum; there is only so much of the actual reward they are after.
This is a Molochian race to the bottom, similar to a dollar auction. The items have value to people, but only insofar as they have more of them than others. The people overall are therefore not better off for having these items, because the signalling game is zero-sum; there is only so much of the actual reward they are after.