Our mission? To feast ourselves on all the economics we can handle at the all-you-can-eat buffet. Today on the show, we're headed to the place where the modern buffet may have been born: Las Vegas. From classic concepts like adverse selection, sunk costs, diminishing marginal returns, to more exotic economic mysteries, like the flat rate pricing bias. Here at Planet Money we believe there's a lot of economics going on at the all-you-eat buffet, tucked in between the mountains of brisket and troughs of mashed potatoes. But you know where you can really see a lot of economic concepts in action? Buffets.
An economic scavenger hunt at a Las Vegas all-you-can-eat buffet : Planet Money You might expect to find economic concepts in the pages of an economics textbook.
