The Undercover Economist (Tim Harford, 2005)

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What supermarket does not want you to know

  • 90% of revenue gone missing between the consumer and the farmer.
  • Turkey voting for Thanksgiving
    • “Self-incrimination” strategy, such as Starbucks.
    • Different quantity and 3 for the price of 2 discounts.
    • Walk 500m to just to save 30p.
  • There is no real scacity power, consumer usually too lazy to walk into another door.
Perfert markets and the "world of truth"
  • Prices reveal a lot of information.
Crosstown traffic
  • New Orleans effect
    • Houses are taxed based on the front stories, so many will build one story house at the front and many stories at the back. Camelback house.

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