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waiting

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    Scarcity & Queues Entry #0465

    Why the queue is the product in some businesses

    Waiting is not the cost of the thing. For some purchases the weeks of anticipation are most of what was consumed, and the object arrives afterwards.

    Master
    The hidden part #0465

    Anticipation is consumption, and it has no unit cost. Removing the wait removes part of what was bought.

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    Cognitive Bias Entry #0110

    The reason a long queue makes food taste better

    Cost already paid has to be justified, and the only currency available for justifying it is the perceived quality of what the cost bought.

    Master
    The hidden part #0110

    A price already paid cannot be refunded, so it is recovered by revaluing what it bought. Effort is charged to the flavour.

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