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Economics is the junction of mathematics and human behavior. I'm not going to travel half a mile to a different taco shop if the closest to me increases burrito
by 88913527 5y ago
Economics is the junction of mathematics and human behavior. I'm not going to travel half a mile to a different taco shop if the closest to me increases burrito prices $1-2 (in an area that reliably has at least 1 taco shop every half mile). In some sense, I'm a captive audience. I'm hungry and I don't want to walk an additional 15 minutes to save a few dollars.
- josephcsible 5y agoPeople on HN tend to be way less price sensitive than average. People living paycheck-to-paycheck would totally walk an extra 0.5 mile to save $2 per meal.
- shinjitsu 5y agoEspecially families with children- now we are talking $8+ a meal at a time in life when people are very price sensitive.
- edgedetector 5y agoYeah, I regularly do this.
- odshoifsdhfs 5y agoMy girlfriend will walk 30 minutes to save 50c on bananas. She is financially well now, but grew up without much, so those habits still stick. I would pay 5 dollars more to not move from my couch and get bananas on my doorstep. The thing is, a lot more people are like my gf than me (I grew up middle-upper class and am 'financially' well upper class for my country).