All you can eat economics
Published:
Publisher: NPR Planet Money
Duration: 25:02
Summary from website: You might expect to find economic concepts in the pages of an economics textbook. But you know where you can really see a lot of economic concepts in action? Buffets.
Here at Planet Money, we believe there’s a lot of economics going on at the all-you-eat buffet, tucked in between the mountains of brisket and troughs of mashed potatoes. From classic concepts like adverse selection, sunk costs, diminishing marginal returns, to more exotic economic mysteries, like the flat rate pricing bias.
Today on the show, we’re headed to the place where the modern buffet may have been born: Las Vegas. Our mission? To feast ourselves on all the economics we can handle at the all-you-can-eat buffet. And along the way, an economist and fellow buffet-lover will teach us his hyper-rational strategy for optimizing his buffet experience.
Link: https://www.npr.org/2023/10/27/1197954459/all-you-can-eat-buffets-economics