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

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  • Carlos J. Asarta
  • Franklin G. Mixon
  • Kamal P. Upadhyaya

Abstract

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).

Suggested Citation

  • Carlos J. Asarta & Franklin G. Mixon & Kamal P. Upadhyaya, 2018. "Multiple product qualities in monopoly: Sailing the RMS Titanic into the economics classroom," The Journal of Economic Education, Taylor & Francis Journals, vol. 49(2), pages 173-179, April.
    • Handle: RePEc:taf:jeduce:v:49:y:2018:i:2:p:173-179
    DOI: 10.1080/00220485.2018.1438862
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