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Bribing the purchasing agent

Giffen Goods: Raising prices and increasing consumption

Other things being equal when the price of a good rises, the quantity demanded should fall. Economics refer to this as the law of demand. Because there are many counter-examples to this law it’s …

Continue readingGiffen Goods: Raising prices and increasing consumption

How credit cards bribe the purchasing agent

“They competed on the basis of raising prices. What other industry do you know that gets away with that?” Charlie Munger talks about how you can bribe the purchaing agent. I have one more …

Continue readingHow credit cards bribe the purchasing agent

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