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Planet Money cover image

All you can eat economics

Planet Money

NOTE

Embrace the Abundance of Variety

The love for variety, termed convex preferences by economists, highlights a fundamental human desire that is particularly well-catered to in places like Las Vegas buffets, which have expanded from simple offerings to extravagant feasts showcasing diverse global cuisines. The trend towards increased variety is evident in many sectors, such as grocery stores, where numerous options are a sign of a healthy market and enhance consumer welfare. This evolution reflects a broader shift in the US economy, mirroring the concept that more choices lead to greater satisfaction, reinforcing the idea that 'more is more.' Ultimately, this abundance not only satisfies appetites but also enriches economic understanding.

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