Tim Harford Under Cover Economist Book Review


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Summary (generated by robot):

also white people you start it was called information so we want to know more about this book ever wonder why cup of coffee in Starbucks is quite expensive is it because of the coffee bean the meal for the barista ever notice the toaster bass copies of location is very strategy at the one in the rail station with so many people in a rush for their train they who need for coffee just stop by in the nearest coffee shop to buy an equitable fee the price well they become insensitive for the price people are willing to pay more for the caffeine and coffee shop get benefit from in this chapter Tim Harford tried to explain about the power of scarcity communication is not easy to find the landlord who has higher ed for anything the space but it only works if the space can produce something formal from coffee shop vocation recommend high rents only if customers will pay high prices for coffee plus our customers are so desperate for coffee so they are particularly price blind the willingness to pay high price sets the higher end when customer high because ultimately that should be available