Much more than if the McDonald’s McRib were always available, its demand soars because of limited availability each year.…
The Surprising Reason That We Love Our Pumpkin Spice Lattes
An economist can explain the surprising reason that we eagerly anticipate the yearly launch of Pumpkin Spice Latte from Dunkin’ and Starbucks.…
The Secret Reason We Want Our Thin Mints
Totally ignoring their taste, an economist would have a surprising reason that explains why we love our Girl Scout Cookies.…
Why We Want a Starbucks Pumpkin Spice Latte
The reason that we cannot resist limited edition drinks like a Starbucks Pumpkin Spice Latte is diminishing marginal utility.…
Why a Starbucks Christmas Tree Frappuccino Has a Brief Life
The Christmas Tree Frappuccino had a short life. It was here Thursday and gone Monday. But Starbucks had a good reason. Frappuccino History The Christmas Tree Frappuccino was the latest in a limited e…
Managing the McRib
Knowing that McRib supply is not predictable, the fans of the pork, barbecue sauce, onions and pickle sandwich are delighted whenever it resurfaces.…
Weekly Roundup: From Drinking Behavior to Dating Decisions
This week’s everyday economics involved 6 economists and such ideas as product differentiation, behavioral economics, marginal utility, price and trade.…
All-You-Can-Eat Buffet Economics
Explained by Alfred Marshall and evident at restaurant buffet tables, the idea of diminishing marginal utility shows how marginal analysis is valuable.…
Too Safe?
Assume for a moment that you have to decide whether to install body scanners at every airport in the U.S. Knowing a decision to proceed will make everyone safer, you say, “Yes.” But, what …
"Tweetquakes"
Sometimes Tweets travel faster than seismic waves. And then, what happens? In this wonderful webcomic from April 2010, an earthquake strikes, people Tweet, and within seconds, the news beats the tembl…