The Answer Is Transaction Costs

Parking Lots, Transaction Costs of the Price Mechanism, and the Pork Pie Fedora Rogue

Jul 9, 2024
Explore the contrasting parking dynamics at Wrightsville Beach, where an orderly lot faces chaotic challenges, highlighting how transaction costs shape user experiences. The story of a man in a pork pie fedora adds a quirky twist as he disrupts social norms by buying parking spaces from beachgoers. Delve into the humor around resource allocation and the complexities of consumer decision-making. The podcast also reflects on personal preferences, online shopping, and the hidden costs we often overlook in our daily choices.
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Episode notes
1
Intro
00:00 • 6min
2
Parking Lot Dynamics and Social Norms
05:58 • 7min
3
Cheating, Identity, and the Economics of Consumption
12:38 • 2min
4
Understanding Subjective Valuations of Transaction Costs
14:56 • 2min
5
Understanding Individual Preferences in Transaction Costs
17:23 • 3min