Title

Multiple product qualities in monopoly: Sailing the RMS Titanic into the economics classroom

Document Type

Article

Publication Date

4-3-2018

Publication Title

Journal of Economic Education

Volume

49

First Page

173

Last Page

179

Keywords

economic education, economics in the movies, monopoly theory, product differentiation

Abstract

© 2018 Taylor & Francis. In this pedagogical contribution the authors extend the traditional three-class tariff employed in the French passenger railway system with the more resonant story of the service quality variations associated with the three passenger classes of the ill-fated RMS Titanic. In doing so, they provide economics instructors with an opportunity to integrate the well-known motion picture Titanic (Cameron and Landau 1997) into the teaching of economics. This article provides instructors with resources that can be used to link historical and modern travel examples of price discrimination in order for students to reach a “deeper understanding of course concepts” (Salemi 2002, 725).

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