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4 Cards in this Set
The Ketchup Conundrum
Malcom Gladwell – What the dog saw and other adventures
Mustard now comes in a dozen varieties but ketchup has stayed the same, the same with spaghetti sauce
Many years ago only French's yellow mustard was found on the shelves. Grey Poupon was a small 100 thousand a year business. They discovered in taste tests that significant people would switch form grey poupon to french's mustard which led them enlist the marketing company that came up with the famous marketing commercials which caused their market share to leap to 50 percent.
There are five known fundamental tastes in the human palate: salty, sweet, sour, bitter, and umami (oo-ma-me) (meaty). Heinz kethcup presses all of these buttons in just the right way.
• "Black swans" are highly consequential but unlikely events that are easily
explainable – but only in retrospect.. All Swans were considered white until 1697 when black swans were discovered in Austrailia.
Just because you haven’t seen a black swan doesn’t been there are no black swans.
Mediocristan vs Extermistan
Narrative Fallacy – Rich business man who made all of the right decisions. This rich business man was just a lottery winner. In some professions skill matters (like denistry)
Look for “what evidence would refute this theory”
Stephen J. Dubner
* Chapter 1: Discovering cheating as applied to teachers and sumo wrestlers (See below)
* Chapter 2: Information control as applied to the Ku Klux Klan and real-estate agents
* Chapter 3: The economics of drug dealing, including the surprisingly low earnings and abject working conditions of crack cocaine dealers
* Chapter 4: The role legalized abortion has played in reducing crime. (Levitt explored this topic in an earlier paper entitled "The Impact of Legalized Abortion on Crime.")
* Chapter 5: The negligible effects of good parenting on education
* Chapter 6: The socioeconomic patterns of naming children
Stephen J. Dubner
Chapter 1 explores prostitution and pimps in South Chicago, one high class escort, and real estate brokers. The pimps and brokers are compared based on the idea that they are help to sell one's services to the larger market. Inequalities in pay grades for men and women are also covered in the chapter. The second chapter is about patterns and details. Patterns in the ages of soccer players, health issues of children in the womb during Ramadan, and the upbringings of terrorists are observed. Next, the book discusses the skills of hospital doctors and how Azyxxi was created, and draws parallels to how terrorists in the UK were tracked down by banks. Altruism is discussed in the third chapter, and uses examples of the murder of Kitty Genovese, crime rates as affected by television, and economic experimental games such as Prisoner's dilemma, Ultimatum, and the work of John A. List.
The fourth chapter is about unintended consequences and simple fixes. It goes into detail about Ignaz Semmelweis' work in hospitals, use of seatbelts and child seats, and the possibility of reducing hurricanes. Chapter 5 discusses externalities and global warming. It discusses how economics do not necessarily take environmental issues into account. Further, the authors posit an alternative way of solving global warming by adding sulfur dioxide to the atmosphere. The epilogue is about microeconomics, and discusses a study as to whether or not monkeys can be trained to use money.