Math Geek Mom: Exercising Judgement

By Rosemarie Emanuele. There is an idea in Economics that discusses where firms will “place” their products, both physically and in terms of small differences in those products. Often described as “ice cream vendors on the beach” it does not necessarily deal with ice cream or beaches, but can be seen in clusters of similar businesses, such as gas stations or fast food restaurants, or even in types of cereal that tend to group themselves by tastes. Read more...