Defending Radiation by Eating Salt

Defending Radiation by Eating Salt

Yesterday my friend, who is now an exchange student, spent one euro in printing his e-ticket at an Airbnb. He told me that he was taking Ryanair, the staff might not allow him to take the flight without the e-ticket, or paying ten euro in priniting the e-ticket at the airport. Finally, Ryanair did not require passenger to show their e-ticket on that flight. He was very happy as he told me that he was rational in economics sense. He told me that if he did not print the e-ticket at Airbnb and if he is required to show it, he might lose ten euro. The cost of priniting at Airbnb is smaller than expected codt of priniting at the airport. 

This event leads me to think about the earthquake in Fukashima in 2011. Due to the earthquake, the nuclear power plant exploded. There was rumor that taking salt can prevent radiation absorbed into human bodies. As a result, demand for salt surged. Price of 100g salt even rose to $40 per 100g (normally it costs $5 for 100g unless you are buying luxurious salts). Many people claimed that the people rushed to buy salt were insane and brainless. However, was this really irrational? 

Giving price of salt is $50, cost of curing cancer is infinity. Even if there were negligible probability that salts are useful, the expected cost saved is still much lower than you cost of a pack of salt. Due to the love towards family, many housewives rushed to buy salts in crowd and dirt markets. This action was completely rational. 

At the end, my friend asked me, “Wilson, am I right? Am I smart?”. I replied, “You are right, however you are stupid.” He was angry and asked me if I were him, what would I do. And I told him, “I would of course print the e-ticket at school’s computer barn.”