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.
Why Bernie Sanders Is the Left’s Ron Paul He isn’t going to win his party’s nomination, but his popularity still matters.
The XX Factor
Michael Eisner’s Comment That Beautiful Women Aren’t Funny Says More About Eisner Than Women
Colbert’s New Late Show Marquee Is the Best Pizza Ad Ever. Update: The Pizza Place Reacts.
The Reddit Blackout Isn’t About One Fired Employee. It’s About a Dysfunctional Relationship at Reddit’s Core.