5 Hidden Uncertainty

Economist George Stigler once remarked, “If you never miss the plane, you’re spending too much time in airports.”1 He said that decades ago, but would he have made the same statement today?

The architects who designed the new Terminal 2 of South Korea’s Incheon Airport would hope not. Arrive early for a flight there and you have plenty to do rather than simply wait. You can visit a spa, gamble at a casino, take in an art exhibition, watch a dance performance, or go ice skating. You can also simply shop to your heart’s content, grab a meal, or catch some sleep at the “NAP zone.” For new airport terminals, this isn’t the exception, but the norm. Singapore recently installed a garden with a five-story waterfall. Doha will ...

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