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The optimal amount of fraud is non-zero

bam.kalzumeus.com · 2,326 words · saved by 1 readers

Counterintuitively, businesses, customers, and society prefer having fraud to what they'd need to do to not have it.

The optimal amount of fraud is non-zero Patrick McKenzie (patio11) • Sep 2nd, 2022 I was recently interviewed by NPR’s Planet Money ( podcast , transcript ) regarding a particular form of credit card fraud. One comment which tragically ended on the cutting room floor: "the optimal amount of fraud is greater than zero." This is counterintuitive and sounds like it is trying a bit too hard to be clever. You should believe it. Crime rates are a policy choice If you enjoy simulation games, you might be familiar with the mechanic where you click a button and some statistic in your civilization

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