A funny thing happened on the way to the minimum wage

A #JHR_Threads explainer of Meer and West (2016)

Long Winded Introduction about uncertainty and the minimum wage

The Nobel Laureate Robert Aumann has an interesting theorem popularly called “Agreeing to Disagree”. Like so many observations that come from game theory, the theorem feels both ridiculous and incredibly intuitive. It starts out with the following provocative sentence:

“If two people have t…