Richard H. Thaler Quotes
Track, Each One Mile Long, Laid End To End (see Figure 1). The Tracks Are Nailed Down At Their End Points But Simply Meet In The Middle. Now, Suppose It Gets Hot And The Railroad Tracks Expand, Each By One Inch. Since They Are Attached To The Ground At The End Points, The Tracks Can Only Expand By Rising Like A Drawbridge. Furthermore, These Pieces Of Track Are So Sturdy That They Retain Their Straight, Linear Shape As They Go Up. (This Is To Make The Problem Easier, So Stop Complaining About Unrealistic Assumptions.) Here Is Your Problem: Consider Just One Side Of The Track. We Have A Right Triangle With A Base Of One Mile, A Hypotenuse Of One Mile Plus One Inch. What Is The Altitude? In Other Words, By How Much Does The Track Rise Above The Ground?
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