Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

With reference to Article 4, explain why The more pizza people ate, the less they enjoyed it. Article 4 + - The Economists Who Studied

With reference to Article 4, explain why "The more pizza people ate, the less they enjoyed it".

image text in transcribed
Article 4 + - The Economists Who Studied All-You-Can-Eat Buffets (The Atlantic, 27 Dec 2014)2 Buffets are now big businesses, particularly in Las Vegas. The buffets in Vegas are no longer the dollar bargains they once were in the late 1950s. They're fancy productions with Kobe beef and king crab legs that can cost over $50. ~ New research shows that paying that much for a buffet might actually make the food taste better Three researchers did an all you can eat (AYCE) buffet field experiment to test whether the cost of an AYCE buffet affected how much diners enjoyed it. They conducted their research at an Italian AYCE buffet in New York, and over the course of two weeks 139 participants were either offered a flier for $8 buffet or a $4 buffet (both had the same food). Those who paid $8 rated the pizza 11 percent tastier than those who paid $4. Moreover, the latter group suffered from greater diminishing returns-each additional slice of pizza tasted worse than that of the $8 group. ~ - Question 4: (10 marks) ~ With reference to Article 4, explain why "The more pizza people ate, the less they enjoyed it". ~

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Business Law And The Legal Environment

Authors: Richard A Mann, Barry S Roberts

10th Edition

0324593562, 9780324593563

More Books

Students also viewed these Economics questions

Question

1. To gain knowledge about the way information is stored in memory.

Answered: 1 week ago