OM DETTA AVSNITT
This episode was originally published in 2021. As we spend Thanksgiving in Arizona, we hope you enjoy this blast from the past.
Contact: gametheorymedia1@gmail.com
If you've been grossed out by the fact that stores opened on Thanksgiving day for Black Friday discounts, you're not alone. But, what if I said it wasn't their fault? They kind of had to. But, the worst part, is that shoppers also kind of had to.
Black Friday is as American as Thanksgiving, but it's been starting earlier and earlier. It doesn't net the stores as much profit as you think and shoppers have to participate if they want the best deals. It's a vicious double prisoner's dilemma that must be stopped.
Thankfully, in recent years, the trend has been reversed.
In this episode, how Black Friday screws everyone, how it started, and how it's changing.
Googliography:
GAME THEORY OF BLACK FRIDAY -
Ellen Bast: https://www.engagetu.com/2018/12/06/game-theory-black-friday/
Cornell Blog 1 Macy's: https://blogs.cornell.edu/info2040/2016/09/06/game-theory-behind-macys-black-friday-debut/
Cornell Blog 2 Black Friday Prisoner's Dilemma: https://blogs.cornell.edu/info2040/2016/09/06/game-theory-behind-macys-black-friday-debut/
UVA Blog, 'Better Than Plowing' Prisoner's Dilemma: https://blogs.cornell.edu/info2040/2016/09/06/game-theory-behind-macys-black-friday-debut/
Philip Kiely Modeling the Sale, Prisoner's Dilemma and Assurance: https://philipkiely.com/essays/november_sale.html
HISTORY -
Overview: https://blackfriday.com/news/black-friday-history
History Channel's Sarah Pruitt, real history of Black Friday: https://www.history.com/news/black-friday-thanksgiving-origins-history
Overview II, Brian Martucci: https://www.moneycrashers.com/black-friday-history/
OTHER RESOURCES
Carnage Report: https://blackfridaydeathcount.com/
What Stores are Open - NerdWallet via Yahoo!: https://finance.yahoo.com/news/black-friday-2021-store-hours-130015392.html
