Posts Tagged ‘competition’

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Presidential “Choice Fatigue”

    Sep 16, 12 • 371 Views • No Comments

    President Obama says he wears only gray or blue suits. As for meals, he prefers having others decide what he will eat. The reason? “Choice fatigue.” Knowing that decision-making requires energy, the President told writer Michael Lewis that he...  [read more]

  • Prices convey information.

    Speed Pricing

    Sep 6, 12 • 297 Views • No Comments

    What does a price tell you? Assume that you were going to purchase a GE Advantium 120 microwave oven on Sunday, August 12. Comparing Sears, Best Buy and Amazon’s sellers at 3 a.m., you would have seen, respectively, $899.99, 809.99 and 744.46. At...  [read more]

  • economic video humor

    Movie Economics

    Aug 25, 12 • 689 Views • No Comments

    Having just seen and enjoyed Bernie, “a low-budget ‘labor of love'” with Jack Black and Shirley MacLaine, I started thinking about the economics of the movie business. It is tough to predict whether a movie will be a success. Everyone said...  [read more]

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    A Blurry Customer Focus

    Jul 27, 12 • 230 Views • No Comments

    Several years ago, I walked into my local bank branch at 5:55. Knowing that they closed at 6:00, I thought I had some time but they said I was too late. I said I had 5 minutes, they said no and by the time we had concluded our exchange, it was 6:00. They said...  [read more]

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Developing a Soda Habit

    Jul 26, 12 • 253 Views • No Comments

    Why do Brazilians drink Coca-Cola? Our story starts during 1990. Trying to cope with an 80% monthly inflation rate, Brazilian shoppers rushed to supermarkets early in the morning before higher price stickers replaced the old ones. In just one month, a $1...  [read more]