Jul
12
July 12, 2016 | Leave a Comment
On Friday, the Economics in Denmark group went to Torvehallerne market after class for some real world examples. As we arrived, a jazz band was playing in the center of the market as part of the Copenhagen Jazz Festival. As an exercise, the students went around to different stalls and compared prices. We were all somewhat surprised that although stalls were close to each other and it was easy to compare prices, the exact same brand and size of strawberries sold for 25 DKK, 30 DKK or 35 DKK (0.15 USD is equivalent to 1 DKK). In general, we were surprised at the degree of price dispersion for identical products.
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