Archive for the ‘Incentives’ Category
Link: https://www.marketplace.org/2017/03/27/tech/farmers-hack-their-equipment-evade-tractor-company-policies
Summary: Farmers are hacking into their own tractors in order to fix them, rather than pay for a dealer to fix it for them. Marketplace introduces this situation and explains why tractor owners aren’t satisfied with this developing market concentration in the repair market and what they hope to do about it. .
Original Air Date: March 27, 2017
Length: 3 minutes 2 seconds
Discussion Question: What impact does forcing tractor owners to go through dealers for repairs do for competition in the market? Who benefits from this system more, the owner or the dealer?
Link: http://www.npr.org/sections/money/2016/04/27/475929464/episode-417-lance-armstrong-and-the-business-of-doping
Summary: Back in the 2000’s, Lance Armstrong and the US Postal Service Cycling team were going all out to win the Tour de France. After the doping scandal was uncovered, the business behind the team was discovered. Planet Money discusses how professional cycling was dominated by doping, and how it was set up like a business.
Original Air Date: April 27, 2016
Length: 18 minutes 25 seconds
Link: http://www.npr.org/sections/money/2016/08/31/492123182/episode-722-the-new-telenovela
Summary: The fourth most watched network in the United States is Telemundo, partly because of its widely successful Telenovelas. Planet Money discusses how one Telenovela changed TV, implemented strong women characters and had a connection to the Mexican drug ring that helped bring down the infamous El Chapo.
Original Air Date: August 31, 2016
Length: 20 minutes 32 seconds
Link: http://www.npr.org/sections/money/2016/02/17/467108611/episode-684-the-return-of-the-colonel
Summary: Colonel Sanders passed away years ago, which began the strained relationship between KFC Corporate and the KFC Franchises. After a disastrous Oprah segment leading to a free giveaway, the relationship hit rock bottom. Planet Money discusses how re-introducing Colonel Sanders (the character), led to happier franchises and more sales for corporate.
Original Air Date: February 17, 2016
Length: 15 minutes 2 seconds
Link: http://freakonomics.com/podcast/chuck-e-cheeses-kid-can-learn-price-theory/
Summary: Chuck E. Cheese’s has a reputation for offering family fun events at an affordable cost. However, is the affordable cost the reason why infamous brawls between parents appear on YouTube? Freakonomics researches Chuck E. Cheese’s price strategy to find out what effect it has on disputes involving police.
Original Air Date: March 8, 2017
Length: 31 minutes 19 seconds
Link: http://www.npr.org/sections/money/2016/01/20/463726763/episode-283-why-do-we-tip
Summary: Tipping has become a staple in many industries in today’s society. The common belief is that with better service results in a better tip. Planet Money discusses whether a tip really is an incentive to give better service, or if it is now expected regardless of service.
Original Air Date: January 20, 2016
Length: 17 minutes 36 seconds
Discussion Question: Is it unethical to not give a tip if good service was given? Or is it unethical to expect a tip given it is a loss for the consumer? Discuss the incentives and utility for both the consumer and employee regarding tips.
Link: http://www.npr.org/sections/money/2016/10/12/497697621/episode-627-the-miracle-apple
Summary: Years ago, the only classifications for apples was based on color: red, green or yellow. Planet Money discusses how one researcher from Minnesota changed the apple market by introducing an apple that was actually tasty for retail consumers.
Original Air Date: October 12, 2016
Length: 14 minutes 7 seconds
Discussion Question: By putting a patent or a trademark on a type of apple, how does that affect supply and demand? How does it affect competition in the market?
