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2min chapter
Parking Lots, Transaction Costs of the Price Mechanism, and the Pork Pie Fedora Rogue
The Answer Is Transaction Costs
Cheating, Identity, and the Economics of Consumption
This chapter recounts a student's failed attempt to cheat on an exam and the repercussions he faces when confronted. It also explores the concept of transaction costs in consumer behavior, highlighting how buyers perceive all costs as transactions influencing their purchasing decisions.
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AI-powered
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode