What Works cover image

EP 428: "You paid WHAT for that?!" Or, How Echo Chambers Distort Prices and How We Think

What Works

00:00

The Monopoly Rents of Cultural Products

When there are a variety of choices on the market, companies compete on price and service to woo customers. Harvey: Competition always tends toward Monopoly or oligopoly. He says that in the abstract territory of cultural products, Monopoly rents still exist but they get a bit weird.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app