Displaying some pricing power, dynamic pricing on Amazon, for airlines, Uber and elsewhere recognizes and responds to changes in demand to maximize profits.
Three Graphs That Tell the Whole Oil Story
Following the law of supply, U.S. shale oil firms will lower output because OPEC is letting price plummet but airlines on demand side like lower prices.
Weekly Roundup: From Turkey to Buffalo
This week’s everyday economics include competition, oligopoly, marginal cost and benefit, GDP growth, unemployment, supply and demand, OPEC, redistribution.
A Thanksgiving Top Ten List
Using economic analysis, the top ten reasons for eating turkey on Thanksgiving include substitute and complementary goods, utility and opportunity cost.
A Bigger (Thanksgiving) Pie or Equal Slices?
Increasing income inequality by moving from communal farming to individual plots, Plymouth Colony Governor William Bradford changed income redistribution.
Why OPEC is Not as Powerful as You Think
The power of OPEC as a cartel that controls oil prices through quotas on its members might be a myth.
What An Unemployment Rate Does Not Tell You
A single statistic like the unemployment rate for Japan, the European Union and the U.S. can be misleading until we look more closely at what it represents.
The Bills in Detroit and Elsewhere
Whether looking at the Buffalo Bills unexpectedly traveling to Detroit, college or high school football, the marginal cost of travel is rising.
How To Make a $200 Sneaker Worth $8000
As an oligopoly, Nike uses limited edition sneakers, coveted by Sneakerheads, to compete because they create cache, a cool image, and eliminate discounting.
Our Weekly Roundup: From Free Music to Cheap Oil
This week’s everyday economics involves opportunity cost, regulation, behavioral economics, GDP, automation, innovation, supply and demand and productivity.
