Wednesday, October 7, 2020

Contract enforcement with costly verification -- Van Halen edition

From the Wall Street Journal Obituary 

A legacy of the band includes its contract riders—requests set as criteria for performance at a venue—particularly power and stage-construction requirements. Van Halen required a bowl of M&M’s to be placed in the band’s dressing room, with the brown candies removed—a test to make sure the contract was honored.

Economists may not be rock stars, but some rock stars are economists!  

RIP

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5 comments:

  1. GioOctober 7, 2020 at 8:05 PM

    Post of the century. LMAO

    ReplyDelete
  2. Jason FuryOctober 9, 2020 at 6:27 AM

    great

    ReplyDelete
  3. AnonymousOctober 9, 2020 at 11:25 AM

    As always, many thanks for another great post.

    There may be one exception to your first claim. Paul Krugman thinks he is a rock star!

    ReplyDelete
  4. David SeltzerOctober 9, 2020 at 4:00 PM

    So cool but not as cool as his guitar solo in Beat It!

    ReplyDelete
  5. Fat ManOctober 10, 2020 at 6:28 PM

    How does it help. Promoters could be meticulous with the candy, and sloppy with the electrical work. Unless failures are perforce correlated, this is not a method of detecting failures.

    ReplyDelete

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