The idea of paying athletes to play begins to dissolve as the details hove into view: If you pay all athletes, women cross-country runners alongside left tackles, then no one can possibly construct a rational fee scale.
Senate President Pro Tem Kevin de León (D-Los Angeles) and Sen. Loni Hancock (D-Berkeley), chair of the Senate Public Safety Committee, sent letters to the state Judicial Council and to state Legislative Analyst Mac Taylor last week asking them to come up with a "more rational fee structure".
But on Tuesday, state Senate President Pro Tem Kevin de Leon and Sen. Loni Hancock, chair of the Public Safety Committee, sent joint letters to the Judicial Council and Legislative Analyst Mac Taylor asking them to assess the assessments and come back to the Legislature with a "more rational fee structure" that doesn't excessively penalize people.
Weirich (1984), claiming that considerations of risk-aversion solve the St . Petersburgparadox, offers a complicated way (which we need not go into here) of including a risk-aversion factor in calculations of expected utility, with the result that there is a finite upper limit to the rational entrance fee for the game.
But in any case, it's not at all clear that risk-aversion can explain why the St . Petersburggame would be widely intuited to have a fairly small maximum rational entry fee, while so many people are willing to risk very large sums of money for highly unlikely huge payoffs in other games.
Ms. Callender said that while such attitudes may not be entirely rational — any higher fees would be covered by government loans that would not have to be repaid until a student graduated and was earning more than £21,000 a year — they are widely held, and may well discourage poorer students.
The information about responsibility loadings and their components could also be useful in informing the public about the rational basis of setting fees.
To begin using our cars intelligently rather than habitually, we need a rational federal gasoline "user fee" rolled in slowly over a decade.
Given the funding model proposed by government, it is entirely rational to charge the maximum fee and rational also for students, especially those with limited means, to take it.
Fund fees plainly bear no rational relation to the cost of acquiring the portfolio information that funds convey.
