Multiple product qualities in monopoly: Sailing the RMS Titanic into the economics classroom
Journal of Economic Education
economic education, economics in the movies, monopoly theory, product differentiation
© 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).
Asarta, Carlos J.; Mixon, Franklin G.; and Upadhyaya, Kamal P., "Multiple product qualities in monopoly: Sailing the RMS Titanic into the economics classroom" (2018). Faculty Bibliography. 2875.