The Three Bridges

A river divided two towns. Three bridges connected them, each with a toll collector who could set any price.

After months of competing and adjusting, each collector settled on the same toll. None would raise it — travelers would simply use another bridge. None would lower it — the extra traffic wouldn’t cover the lost revenue.

A visiting scholar noted: “You’ve each found the price where changing helps no one.”

“We didn’t find it,” replied a collector. “We fell into it. Every time one of us moved, the others adjusted, until none of us wanted to move anymore.”