Don’t think of the model as “what happens to a restaurant when there is an exogenous increase in the beauty of its women” (recall Scott Sumner — “don’t reason from a beautiful women [price] change!” ). Think of the model as “what does lots of beautiful women predict about the place of a restaurant in its product life cycle?”
I read the line in the book as making a causal argument that the beautiful women actually induce lower-quality food, but this heuristic interpretation is more consistent with the overall message of An Economist Gets Lunch.
The World Is Not Falling Apart Never mind the headlines. We’ve never lived in such peaceful times.
Forget Santa. You Should Celebrate La Befana. Because what Christmas needs is a wine drinking witch.
Slate Voice: “Santa Should Not Be a White Man Anymore” Aisha Harris reads her piece on giving St. Nick a makeover.
Space: The Next Generation
The Venus Express Will Go Out in a Burst of Glory I was cheap labor on a thrifty mission to our nearest planet.
Ronald Reagan Is Kobe Bryant The best NBA analogues for George Washington, Warren G. Harding, Barack Obama, and every other president.