SST 
[SARD 
First, I want to ask what you would consider to be a significant 
value for the median (on page 23), or the criteria which would go- 
vern what a significant value might be. Could you develop this 
point further? Second, I was wondering whether, in doing your 
research, you had considered any other concept of rational behaviour 
besides the one of maximizing expected utility. Suppose you had 
raken a more conservative approach toward the problem, say a 
max-min approach. What would have happened? Would there 
have been much difference? After all, how many political figures 
nvolved in economic planning would think in terms of maximizing 
expected utility? 
FRISCH 
Let me start by complimenting Professor THEIL for the simplicity 
of the model he used, and I am not saying this in a sarcastic way. 
[ really mean that frequently we can exhibit certain fundamental 
properties of a problem, by using simplified examples. And of 
course you save a lot of time and mental effort if you use simplified 
examples. 
Theil - pag. 3