As a consumer, my experiences are exceedingly pleasant. I don't just receive endless great products for reasonable prices. I routinely receive gracious, flexible service with a smile. Small snapshot: When I buy baked goods or produce at Wegmans, the cashiers don't even bother to look in the brown paper sack. They simply ask me, "What's in your bag?" - and ring up whatever I declare.How can profit-maximizing businesses treat me so well? The easy answer is "competition" - if any one business offered worse terms, I'd take my business elsewhere. That makes a lot of sense, but dodges the deeper question: Why is gracious, flexible service with a smile the market equilibrium in the first place?The
Bryan Caplan considers the following as important: Behavioral Economics and Rationality
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