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.
TODAY IN SLATE
Forget Oculus Rift
This $25 cardboard box turns your phone into an incredibly fun virtual reality experience.
Stop Panicking. America Is Now in Very Good Shape to Respond to the Ebola Crisis.
The 2014 Kansas City Royals Show the Value of Building a Mediocre Baseball Team
The GOP Won’t Win Any Black Votes With Its New “Willie Horton” Ad
Sleater-Kinney Was Once America’s Best Rock Band
Can it be again?