Commentary
Suppose you lived in a neighbourhood with several different grocery stores. If you don’t like what one store has to offer, you can just shop elsewhere. At first glance, it sounds like you have many choices. But let’s also suppose that each grocery store is required by the government to have an identical layout and stock the same food brands. Now your options seem much more limited. That’s because genuine choice only exists when there are real differences between the available stores. It doesn’t matter how many choices you can make when all options are essentially the same….