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The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price.
Coupon collector's problem. In probability theory, the coupon collector's problem refers to mathematical analysis of "collect all coupons and win" contests. It asks the following question: if each box of a given product (e.g., breakfast cereals) contains a coupon, and there are n different types of coupons, what is the probability that more ...
The 1% Club is an American game show, with its setup identically based on the British game show of the same name.Contestants are given a very short amount time to solve brain teaser questions, with questions getting significantly more difficult as the game continues, as statistically a progressively smaller percentage of people, according to the producers, answered each subsequent question ...
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