Tim Harford’s long-running column in the Financial Times, “The Undercover Economist,” reveals the economic ideas behind everyday experiences. His first book, The Undercover Economist, was published in 30 languages and sold…
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Pepsi twice ended up in court after promotions went disastrously wrong. Other big companies have fallen into the same trap – promising customers rewards so generous that to fulfill the promise might mean corporate bankruptcy.
Businesses and customers alike are sometimes blinded by the big numbers in such PR stunts – but it’s usually the customers, not the businesses, who end up losing out.