All-you-can-eat buffets are a practical demonstration of economic ideas

The economics of all-you-can-eat buffets

Is it possible to out-eat the price you pay for a buffet? How do these places make money? We looked at the dollars and cents behind the meat and potatoes.

Americans spend an average of nearly $500 per year on tipping at restaurants and bars

The habit runs contrary to economic rationality: Why pay more for a good or service you have already received when it isn’t mandatory? Researchers found that people tip, in part, to avoid the psychological pain of not fitting in.

The economics of Chick-fil-A

Chick-fil-A has dominated national customer satisfaction surveys while growing conservatively for decades. This video goes into the economics the company deploys to be successful.

What something costs is reflective of a balance in the market determined by the amount of demand relative to the supply of goods and services

Because economies are complex systems, a wide variety of issues influence this balance—including some things generally considered to be positive, like rising wages.

'Buy one, get one free' is a clever way to get you to spend more money

One Burger King diner recently saw the price of her $2.16 sandwich rise to $3.19 per sandwich when she used a buy-one-get-one-free (or BOGO) coupon. Naturally, she became suspicious about how good a deal BOGO really is. This video explains why BOGO deals are a way for companies to get you to spend more money, rather than less.

Experts argue some frugal habits—like driving farther for cheaper gas—aren't worth it

Other frugal habits experts suggest might not be worth the squeeze include driving to multiple stores in one trip to hunt for deals, as well as buying everything in bulk.

An economist answers questions about love

Economists aren't exactly known for their dating advice. But as it turns out, economics experts can offer fresh perspectives to everyday romantic quandaries. On this podcast episode, economist Tim Harford answers listeners’ relationship quandaries, from paying for a first date to alternatives to saying, "I love you." Listen to the episode here.

In 2024, US airports generated over $1B of revenue—partly due to overpriced airport food

Some in the airport industry argue that charging street prices in airport restaurants isn't sustainable because it's more expensive to run a business inside an airport.

Warren Buffett’s investing advice includes never paying too high a price for any investment

Buffett is perhaps the greatest investor of all time, and his investing philosophies are highly regarded and practiced around the world. His advice also includes investing in productive assets (like stocks, bonds, and real estate) and imagining what could go wrong before thinking about how much money you could make.

How to save money with 'loud budgeting'

"Loud budgeting" is when you announce to your friends that something—a restaurant, an activity, and so on—is too expensive and you can't afford it. The term, which opposes the social pressure of keeping up wealthy appearances, was coined by comedian Lukas Battle in 2024 as a joke, but it caught on with TikTokers amid inflation.

Delivery apps have realigned the restaurant industry

As delivery apps like Grubhub and DoorDash became popularity, traditional dine-in restaurants have adapted to become more accommodating. In this thinkpiece for the Atlantic, Ellen Cushing argues that it's both changed the kind of food being made and realigned our very notion of a restaurant. (Some readers may experience a paywall.)

Network effects are the economic term for a good or service's popularity

When goods or services become especially popular, firms that provide that good or service become dominant in the market—which can ultimately lead to a monopoly.

Inflation explained in under 3 minutes

Keep seeing inflation in the news, but don't have a great grasp on what it means or how it works? This overview from 1440 breaks down how economists think about inflation, what it means for the average consumer, and how governments attempt to keep rising prices in check through various policies.

Explaining the 'Costco effect'

The "Costco effect" is a term used to describe how the warehouse chain has perfected the art of the impulse purchase. The strategic layout of the store and product placement encourage shoppers to explore and make impulse purchases after initially getting reeled in by low prices on high-quality goods. Read first-hand accounts from shoppers explaining the spell-like effect in this story.

Why there's a snack recession

Inflation and economic uncertainty have driven many Americans to make cuts to their snack budgets, according to reports from major food manufacturers like General Mills, JM Smucker, and Campbell's. Major retailers have also observed lower-income consumers cutting back on nonessentials due to the macroeconomic environment.

Gold has no nutritional value or flavor—but edible gold is still popular

Gold is a pretty expensive topping. Nonetheless, luxury menus around the world are offering food staples—think bagels, chocolate, and burgers—wrapped or dusted with gold. What's the deal with this fascination?

Invasivorism is a form of ethical eating focused on eating invasive species

The culinary approach helps combat the growth of invasive species populations by increasing demand for dishes made with them, but some suggest that creating a market for these species may help prolong their presence by moderating control. Some diners have expressed reluctance toward consuming more exotic species, such as nutria—raccoon-sized rodents.

The enduring history of universal basic income

Distributing money to everyone is a radical idea provoking heated debates. The historical record shows pockets of civilizations exploring the notion around the world. The practice resembles what many prehistoric societies did as well. Trace the history of this income distribution approach with this fascinating overview.

'Omakase' roughly translates to 'I'll leave it up to you'

An omakase restaurant allows sushi chefs to craft custom-made rolls for patrons. The meals are often expensive, but there are good reasons for that: They include the freshest ingredients the restaurant has to offer and usually have limited spots. This short documentary focuses on Royal Sushi and Izakaya in Philadelphia.

Medieval taverns offered patrons a limited menu

Inns, taverns, and alehouses were more like bars than restaurants, though they did offer patrons (often travelers) food, it wasn't laid out on a diverse menu. Instead, the establishments offered a limited menu, often consisting of a single stew, and hungry customers could grab a bowl to go along with their alcohol.

How understanding a balanced diet can help you make good food choices

Eating a balanced diet—which includes a variety of foods from all food groups—is important for optimal health. It is also recommended to avoid ultra-processed foods, such as frozen meals, fast foods, soda, and flavored yogurt. The simplest way...

Read about different levels of price discrimination

Price discrimination is a business practice in which different customers are charged different prices for the same product or service. It's one way for a business to boost profits and take advantage of its market position. There are three levels of price discrimination, differentiated by the consumers targeted and the reasons for discrimination.

One critic argues opera needs a new business plan

Christos Makridis, a labor economist at Arizona State University, argues that the public has an appetite for the art form, but that the industry's business model is dated, relying too heavily on philanthropy and aging season ticket holders rather than embracing innovation.

Pizza boxes are square for practical reasons

Although circular pies have sometimes appeared in circular boxes, they usually travel in square, cardboard boxes. That's because the cardboard industry manufactures them with edges so they can be made in one piece and be easily stacked.

Is life all about pleasure? Debating the Experience Machine

If you could plug into an Experience Machine that gave you total pleasure all the time, would you do it? Philosopher Robert Nozick thinks you wouldn't, using this as evidence against hedonism, the view that life is all about pleasure. Explore the nuances of the argument and counterarguments with this accessible article.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

SpongeBob exemplifies Aristotle's philosophy for living well because he understands that happiness doesn't come from external factors like money, recognition, or power.

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

At the beginning of the 20th century, a group of young men ate standard American food—replete with food additives like borax and formaldehyde—as part of government research to better understand food safety.

Use this tool to calculate the dollar value of your parental mental load, from meal planning to coordinating after-school care, then see resources that help generate solutions.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

A vending machine run with Anthropic's AI went out of business after it was convinced to give away items for free and sell a video game console.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Larger animals like giraffes, elephants, and blue whales have developed a unique defense against cancer, a phenomenon known as Peto's Paradox

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

Stanford built a Google Maps for the Roman Empire, revealing how much it cost to travel in the ancient world

Browse a detailed visual analysis of over 200,000 similes—comparisons that often use 'like' or 'as'—from popular fiction to see how frequently writers the same idiomatic expressions.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

Fish populations in the Great Barrier Reef have increased after installing waterproof speakers on the ocean floor that played recordings of sounds from healthy coral reefs.

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

How fusion—which releases energy when two lighter atoms combine to form a heavier atom—differs from fission

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

According to the physics of black holes, our 4D reality may be a hologram—a projection of information coded on a 2D surface on the edge of the universe.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Mark Twain spent decades feuding with the US Postal Service, convinced its costs and regulations were bureaucratic overreach.