Why Popcorn Costs So Much at the Movies - ISBN: 9780387770017 - (ebook) - von Richard B. McKenzie, Verlag: Copernicus - Details - OvW eBook Shop

Details

Why Popcorn Costs So Much at the Movies

And Other Pricing Puzzles

von: Richard B. McKenzie

35,69 €

Verlag: Copernicus
Format: PDF
Veröffentl.: 17.04.2008
ISBN/EAN: 9780387770017
Sprache: englisch
Anzahl Seiten: 328

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

This entertaining book seeks to unravel an array of pricing puzzles from the one captured in the book’s title to why so many prices end with "9" (as in $2.99 or $179). Along the way, the author explains how the 9/11 terrorists have, through the effects of their heinous acts on the relative prices of various modes of travel, killed more Americans since 9/11 than they killed that fateful day. He also explains how well-meaning efforts to spur the use of alternative, supposedly environmentally friendly fuels have starved millions of people around the world and given rise to the deforestation of rainforests in Malaysia and Indonesia.
This book unravels an array of pricing puzzles from the one captured in the book’s title as to why so many prices end with "9". UCI economist Richard McKenzie gets across why prices matter. His book is enthralling, entertaining, and yet at a high scientific level.
• How Prices Matter rices are ubiquitous, so much so that their importance to the smooth operation of a market economy (even one constrained by extensive polit- P ical controls as is the case in China) can go unnoticed and unheralded. Prices are what all trades, whether at the local mall or across the globe, are built around. Tey facilitate trades among buyers and sellers who don’t know each other, meaning they make less costly, or more socially benefcial, the allocation and redistribution of the planet’s scarce resources. Indeed, as the late Friedrich Hayek is renowned for having observed, prices summarize a vast amount of - formation on the relative scarcity and, hence, the relative cost of resources (with much of the information subjective in nature) that can be known only by ind-i viduals scattered across markets and cannot be collected in centralized loc- tions, except through market-determined prices. 1 Because they summarize, and largely hide from view of buyers, so much i- formation spread among people throughout the world, prices can be puzzling. Why prices are what they are, and change for reasons that are obscured by a multitude of economic events that can extend backward in time and forward into the future, can be mysterious. Explaining many puzzling prices can be - tective work that the modern-day Sherlock Holmes would surely fnd challenging.
Price and the “Law of Unintended Consequences”.- Pricing Lemons, Views, and University Housing.- Why Sales.- Why Popcorn Costs So Much at the Movies.- Why So Many Coupons.- Why Some Goods Are Free.- Free Printers and Pricey Ink Cartridges.- Why Movie Ticket Prices Are All the Same.- Why So Many Prices End with “9”.- The Economics of Manufacturers’ Rebates.- The Psychology and Evolutionary Biology of Manufacturers’ Rebates.- The Question of Queues.- Why Men Earn More on Average than Women—And Always Will.
Richard McKenzie is the Walter B. Gerken Professor of Enterprise and Society in the Paul Merage School of Business at the University of California, Irvine. He has written a number of books on economic policy, most notably the Microsoft antitrust case in the United States. His latest book, In Defense of Monopoly: How Market Power Fosters Creative Production (University of Michigan Press, 2008) challenges the theoretical foundations of antitrust law and enforcement. His commentaries have appeared in national and major regional newspapers in the United States, and he produced an award-winning documentary film, Homecoming: The Forgotten World of America's Orphanages, that has aired across the country on public television. Richard McKenzie is a frequent columnist for Wall Street Journal.
Why Popcorn Costs So Much at the Movies, And Other Pricing Puzzles unravels the pricing mysteries we encounter every day.
Have you ever wondered why all movies, whether blockbusters or duds, have the same ticket prices?Why sometimes there are free lunches?Why so many prices end with "9"?Why ink cartridges can cost as much as printers?Why merchants offer sales, coupons, and rebates?Why long lines are good for shoppers?Why men earn more than women, around the globe – and why they always will?
Richard McKenzie goes on to show how the 9/11 terrorists still kill Americans every day, because their attack distorted the perceived risks and relative prices of air vs. automobile travel, and jacked up both security costs and flight delays. Professor McKenzie also explores the unintended consequences of well-meaning efforts to spur the use of environmentally friendly fuels: starvation among millions of people around the world, and the destruction of rainforests in Malaysia and Indonesia.
How can these things be? If you think you know the answers, think again. Why Popcorn Costs So Much at the Movies, And Other Pricing Puzzles shows you that the real reasons are sophisticated and surprising – and in Professor McKenzie’s hands, both informative and entertaining.
You won’t need a degree in economics to enjoy this fascinating book, just an armchair and an inquiring mind.
"This is one of the very best books on pricing. If you are looking to understand the economics of the world around you, you can do no better than to start here."Tyler Cowen, George Mason University; economics blogger of "www.marginalrevolution.com""Truly liberating. Using a series of fascinating enigmas we’ve all encountered in our daily lives, Richard McKenzie reveals how the real economic world works. Highly readable. Extraordinarily enlightening."W. Michael Cox, senior vice president and chief economist at the Federal Reserve Bank of Dallas"Anything we think about every day is important. And who goes a day without thinking about prices? But prices are more important than most people realize. If you are interested in reducing pollution from cars, or not being fooled into paying too much, or too little, for products, or in just getting the best deal on popcorn at the movies, you will benefit from knowing more about prices than most people do. And there is no easier, or entertaining, way of finding out more on how and why prices are important than by reading McKenzie's fascinating book Why Popcorn Costs So Much at the Movies, And other Pricing Puzzles. And are people really fooled by all those prices that end in 99 cents? You'll be surprised."
Dwight Lee, University of Georgia
Enthralling, entertaining, any yet at a high scientific stage
UCI economist Richard McKenzie gets across why prices matter, and how - for simply everybody
This entertaining book seeks to unravel an array of pricing puzzles from the one captured in the book’s title to why so many prices end with "9" (as in $2.99 or $179), to why ink cartridges can cost as much as printers, to why stores use sales, coupons, and rebates. Along the way, economist Richard McKenzie explains how the 9/11 terrorists have, through the effects of their heinous acts on the relative prices of various modes of travel, killed more Americans since 9/11 than they killed that fateful day. Professor McKenzie also explains how well-meaning efforts to spur the use of alternative, supposedly environmentally friendly fuels have caused starvation among millions of people around the world and have given rise to the deforestation of rainforests in Malaysia and Indonesia. How can this be? If you think you already have an answer, read on. The solutions to these and other such pricing puzzles are more sophisticated and surprising than you likely now think.
“Richard McKenzie's latest book “Why Popcorn Costs So Much at the Movies... and Other Pricing Puzzles” (Springer, 2008) is an absolute whiz to read and learn from, like his 1975 tour de force “The New World of Economics”… I write to thank you for your most recent book which I have read and am rereading. It is wonderful. I use that term not because I am bereft of more formal and high sounding adjectives but because it is, for me at least, accurate.” 28 August 2008 (Brent Wheeler, Brent Wheeler Limited)
“I read about . . . your new book ‘Why Popcorn Costs So Much at the Movies’, which is excellent, by the way--much better than a lot of the other new econ books out there trying to explain everything.” 4 September 2008 (Mark Skousen, Benjamin Franklin Chair of Management, Grantham University, Author of ‘The Big Three in Economics: Adam Smith, Karl Marx, and John Maynard Keynes’)