Top Highlights

• We’ve launched our own Monty Python channel on YouTube.
• What’s more, we’re taking our most viewed clips and uploading brand new high quality versions. And what’s even more, we’re letting you see absolutely everything for free. So there! But we want something in return. None of your driveling, mindless comments. Instead, we want you to click on the links, buy our movies & TV shows and soften our pain and...
• Then there is the amazing “gift economy” of Wikipedia and the blogosphere, driven by the nonmonetary incentives of reputation, attention, expression, and the like.
• Economists call these “cross-subsidies.”
• The initial question is what behavioral economists call an “anchor,” which calibrates a consumer’s sense of what a fair price is. It can have a dramatic effect on what they’ll ultimately pay. In this case, the students who had been asked if they would pay $10 were willing to pay, on average, $1 for the short poem, $2 for the medium, and $3 for the ...