Book Review: ‘Why does popcorn cost so much at the movies: and other pricing puzzles’ by Richard B. McKenzie
‘Why popcorn costs so much at the movies; and other pricing puzzles’ 1by Richard B. McKenzie2 explains the economics behind the pricing in the markets we are around everyday and the public help to generate by helping the circular flow of income. McKenzie applies logic and analyses the data he finds although there are some major flaws in his book that he does not explore on which means it gives the book weakness. McKenzie does not confine himself to general ideas of inflated prices or average market prices, he even uses reasoning about prices to show that the federal government’s rules for getting on airplanes have caused more…show more content… The American disaster of the twin towers terrorist attack is also written about in the book. This chapter has much emotion unlike the rest of the book, which I view as a poor point of the author as although it was an international tragedy, the book itself should be focused upon the economics and I feel the author spends too long speaking about the tragedy. The idea of the theory was good though as it is current news that almost everyone knows and cares about – they also all have an emotional bias and opinion on it. McKenzie explains the economics later on in the chapter very well although his own personal opinion comes through too much. After his emotional introduction to the chapter, there are too many numbers and not enough explanation, which is different to the remainder of the books as generally he gets the balance right between the two.
The final chapter that I am going to analyse is ‘why so many prices end with 9’ this chapter is clear cut and extremely interesting I found. The psychology behind the marketing choice is fascinating and he uses economics in a daily surrounding which intrigues me more and I’m sure many others that read the book. McKenzie had a very balanced and unbiased view in this chapter, although he does occasionally assume that the average person is very simple and not intelligent in the least. He also missed out some information that I though could be relevant such as what the people do