Just finished reading “Discover your Inner Economist”.
It’s really interesting, and I really do liked certain parts of the book.
Loved the chapter on dining well, that dealt with the economics of demand and supply governing dining, like how a large income gap leads to better food, and why certain classes of restaurants tended to offer a universal set of items, even though those are not part of their core competency.
For example, according to Kim, almost all Japanese food places in Singapore would sell Tempura & Ramen, even if those tasted just normal, because those items are well known universally and thus would sell well, or at least would not go wrong.
4 General tips extracted:
- Avoid dishes that rely too heavily on top-quality raw ingredients
- Appetizers are often better than main courses
- Avoid desserts (N/A if it is a dessert stall for obvious reasons)
- Order more dishes than you plan to eat
Other parts of the book dealt with stuff like, how giving money to a beggar only encourages them to beg harder, thus neutralizing any benefit (aka deadweight loss) and stuff like incentives (monetary vs moral), the example of the $3 fine for late child care pick-ups was great.
