An economic thought experiment.

Fri, 30 Jan 2009
1 min read
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Scenario: You have six children. You plan to have at least one more child. You have eight more children instead.

Question: Given the above scenario, what is the marginal utility of having:

  1. One more child?
  2. Eight more children?

I’m really curious as to why the family isn’t already satisfied with the six children they already have. At the very least, I hope the family is rich and can provide a college education for all children, and the parents are loving people who know how to rear raise their kids according to sound principles founded on common sense.