Martin was shocked. He’d purchased an options contract for some travel related services and when he wanted to renegotiate the terms his world model was shaken by the discover that the other party had failed to mention that his contract included the option change the terms. as he desired, for free!

Martin and I share the affliction that we now see all transactions in terms of option value. They aren’t exchanging a chicken, they are reshaping their personal and joint option spaces. It’s a delightfully wierd way of looking at the world.

I wonder though, has anybody told Martin about RyanAir’s policy that you get a free Creme Bruelee just for asking?