Dollar Hot Dogs, Coupons, and Bidding for Wallets
The Answer Is Transaction Costs
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How to Segment a Market With Transaction Cost
The average price of full size hot dogs at Major League Baseball Stadiums, which is $8. People are responsive to money price but are willing to spend time will queue up for the $1 hot dog line. "People self identify as high and low elasticity buyers," says David Frum.
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