Tuesday July 15, 2014 – 11am
Posted Jul 15, 2014 01:52:35 PM.
This article is more than 5 years old.
11:00- Ashleigh Patterson, Yahoo! Senior Finance Editor
Bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service dispute the price which will be paid and the exact nature of the transaction that will take place, and eventually come to an agreement. Bargaining is an alternative pricing strategy to fixed prices. Optimally, if it costs the retailer nothing to engage and allow bargaining, he can divine the buyer’s willingness to spend. It allows for capturing more consumer surplus as it allows price discrimination, a process whereby a seller can charge a higher price to one buyer who is more eager (by being richer or more desperate). Haggling has largely disappeared in parts of the world where the cost to haggle exceeds the gain to retailers for most common retail items. However, for expensive goods sold to uninformed buyers such as automobiles, bargaining can remain commonplace.
@AshleighPat w/ @YahooFinanceCa
11:30- Chris Zelkovich, Freelance Journalist
Technology is changing the way we drive. What was surprising was that for automakers, one of their first choices wasn’t a device to make driving safer or more economical. It was parking. Seriously? Of all the innovations that could benefit humanity and help drivers avoid frequent trips to the collision reporting centre or jail, this is what they came up with? Take a look at any parking lot or, if you have the stomach, any street that allows parallel parking and you will conclude that most drivers are challenged by the task of placing their vehicles inside white lines. And by “challenged,” I mean “don’t have a clue.” No matter how small the car or how large the space, somebody will find a way to turn a simple driving manoeuvre into automotive mayhem. They’ll park so close to the adjoining car in parking lots that the poor wretch who got there first will require the jaws of life to get back in. But it won’t do much for the real parking crimes: parking in disabled spots by the able bodied, double-parking while making an emergency run for a caramel latte, parking under No Parking signs and straddling two spots in a crowded shopping mall lot.
@czelkov
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