Hotel Deals and Traps
Media Type: Office Hours Topic: Elasticity, The Firm
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This video takes you to a Chicago hotel room during the AEA meetings. I make two important points. First, the AEA leverages its negotiation strength to secure very low hotel rates during the off season -- a time when hotels have many extra rooms available. Second, I discuss why the prices of hotel mini-bars and snacks seem outrageously high. But why is this just good economics?
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