In a store or restaurant, music tempo is an atmospheric tool that firms engaging in monopolistic competition can use to increase customer spending and time.
Weekly Roundup: From Pacesetters to Prices
Our everyday economics includes externalities, supply and demand, price maker, monopolistic competition, oligopoly, statistics, money supply & innovation.
How Uber and Amazon Use Pricing Power
Displaying some pricing power, dynamic pricing on Amazon, for airlines, Uber and elsewhere recognizes and responds to changes in demand to maximize profits.
Our Weekly Roundup: From North Carolina to Norway
SUNDAY 10.19.2014 The reason the Russian McDonald’s is shrinking…more MONDAY 10.20.2014 The economic impact of ebola fear…more TUESDAY 10.21.2014 How more valuable women lead to less marriage…more WEDNESDAY 10.22.2014 Why Norway has so many Teslas…more THURSDAY 10.23.2014 The damage…
Up Like a Rocket, Down Like a Feather
At your local gas station, you might be seeing some sticky prices. Although barrels of West Texas Intermediate (WTI) and Brent Crude have steadily gotten cheaper, the price at the pump has had a less steep downward trajectory. One economic study…
Next Day Delivery and the Prisoner’s Dilemma
Retailers face the prisoners’ dilemma when deciding whether to keep next day shipping guarantees on December 23rd because a decision relates to what others do.
The Reason One Starbucks Can’t Ask Your Name
Even for a huge multinational like Starbucks, competing globally requires knowledgeable monopolistic competition and knowing local tastes and habits.
Weekly Roundup: From Airline Seats to Earthquakes
Our weekly roundup includes everyday economics that relate to opportunity cost, corporate taxation, GDP, monopolistic competition & negative externalities.
Do You Prefer McDonald's or Starbucks?
Shaped by monopolistic competition, the behavior of McDonald’s and Starbucks attracts different groups of consumers.