Unstable equilibria: Conan Doyle edition

Gordon Tullock saw the equilibrium in Competing for Aid: the most pitiable beggar will be the one drawing the rent, and so all will compete to be the most pitiful.

Conan Doyle didn't. From The Man with the Twisted Lip's dramatic climax (spoiler alert for those who haven't read it):

“You are the first who have ever heard my story. My father was a schoolmaster in Chesterfield, where I received an excellent education. I travelled in my youth, took to the stage, and finally became a reporter on an evening paper in London. One day my editor wished to have a series of articles upon begging in the metropolis, and I volunteered to supply them. There was the point from which all my adventures started. It was only by trying begging as an amateur that I could get the facts upon which to base my articles. When an actor I had, of course, learned all the secrets of making up, and had been famous in the green-room for my skill. I took advantage now of my attainments. I painted my face, and to make myself as pitiable as possible I made a good scar and fixed one side of my lip in a twist by the aid of a small slip of flesh-coloured plaster. Then with a red head of hair, and an appropriate dress, I took my station in the business part of the city, ostensibly as a match-seller but really as a beggar. For seven hours I plied my trade, and when I returned home in the evening I found to my surprise that I had received no less than 26s. 4d.

“I wrote my articles and thought little more of the matter until, some time later, I backed a bill for a friend and had a writ served upon me for £25. I was at my wit’s end where to get the money, but a sudden idea came to me. I begged a fortnight’s grace from the creditor, asked for a holiday from my employers, and spent the time in begging in the City under my disguise. In ten days I had the money and had paid the debt.

“Well, you can imagine how hard it was to settle down to arduous work at £2 a week when I knew that I could earn as much in a day by smearing my face with a little paint, laying my cap on the ground, and sitting still. It was a long fight between my pride and the money, but the dollars won at last, and I threw up reporting and sat day after day in the corner which I had first chosen, inspiring pity by my ghastly face and filling my pockets with coppers. Only one man knew my secret. He was the keeper of a low den in which I used to lodge in Swandam Lane, where I could every morning emerge as a squalid beggar and in the evenings transform myself into a well-dressed man about town. This fellow, a Lascar, was well paid by me for his rooms, so that I knew that my secret was safe in his possession.

“Well, very soon I found that I was saving considerable sums of money. I do not mean that any beggar in the streets of London could earn £700 a year—which is less than my average takings—but I had exceptional advantages in my power of making up, and also in a facility of repartee, which improved by practice and made me quite a recognised character in the City. All day a stream of pennies, varied by silver, poured in upon me, and it was a very bad day in which I failed to take £2.

“As I grew richer I grew more ambitious, took a house in the country, and eventually married, without anyone having a suspicion as to my real occupation. My dear wife knew that I had business in the City. She little knew what.

If one could have earned a great living in London by being an excellent object of pity, other beggars would have used self-mutilation as substitute for our Mr. St. Clair's make-up skills; it must then have been St. Clair's particular rhetorical skills that drew the rent. Perhaps St. Clair is better considered a busking performance artist in a winner-take-all market. But it still seems a pretty unstable equilibrium.