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The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price.
Coupon collector's problem. In probability theory, the coupon collector's problem refers to mathematical analysis of "collect all coupons and win" contests. It asks the following question: if each box of a given product (e.g., breakfast cereals) contains a coupon, and there are n different types of coupons, what is the probability that more ...
On October 30, 1996, Securities and Exchange Commission approved the merger and PSPC was then absorbed by PSC as the surviving entity. In 2000, President Chain Store Corporation (PCSC) of Taiwan , also a licensee of 7-Eleven, purchased the majority shares of PSC and thus formed a strategic alliance for the convenience store industry within the ...