The Economics of Everyday Things

When a Fortune 500 company needs a new leader, it turns to a well-connected headhunter who assesses candidates with psychological tests and mock TV interviews. Zachary Crockett activates his network.     * SOURCES: * Julian Ha [https://www.heidrick.com/en/people/h/julian_ha], partner at the executive recruiting firm Heidrick & Struggles. * Jane Stevenson [https://www.kornferry.com/about-us/consultants/janestevenson], global vice chair of board and CEO services at Korn Ferry.   * RESOURCES: * "The Transformation of the CEO, [https://www.russellreynolds.com/en/insights/reports-surveys/global-ceo-turnover-index/the-transformation-of-the-ceo]" by Stephen Langton, Rusty O'Kelley, Laura Sanderson, and Sean Roberts (Russell Reynolds Associates, 2024). * "Executive Paywatch [https://aflcio.org/paywatch#:~:text=Average%20CEO%20Pay%20Is%20Growing,500%20Index%20companies%20in%202023]" (AFL-CIO, 2023). * "Diversity matters even more: The case for holistic impact, [https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-matters-even-more-the-case-for-holistic-impact]" by Dame Vivian Hunt, Sundiatu Dixon-Fyle, Celia Huber, María del Mar Martínez Márquez, Sara Prince, and Ashley Thomas (McKinsey & Company, 2023). * "CEO Tenure Rates, [https://corpgov.law.harvard.edu/2023/08/04/ceo-tenure-rates-2/#:~:text=Between%202013%20and%202022%2C%20the,terms%20in%20their%20leadership%20roles]" by Joyce Chen (Harvard Law School Forum on Corporate Governenance, 2023). * "Best Industries to Recruit for in the US [https://pgcgroup.com/blog/top-us-recruitment-sectors-for-growth]" (Precision Global Consulting).

Security guards make malls feel safer, but what can they do when there’s trouble? Zachary Crockett observes and reports.   * SOURCES: * Gus Parsons, mall cop in the San Diego area. * David Levenberg [https://www.linkedin.com/in/david-levenberg-ba2307258/], owner of Center Security Services.   * RESOURCES: * "Mall of America's security team will start using facial recognition software as part of safety plan, [https://www.cbsnews.com/minnesota/news/mall-of-americas-security-team-will-start-using-facial-recognition-software-as-part-of-safety-plan/]" by Derek James (CBS News, 2024). * "The Problems Inside North America’s Largest Security Firm—and Third-Biggest Employer, [https://time.com/6278534/allied-universal-security-problems/]" by Alana Semuels (Time, 2023). * "Malls Work on Their Security, but Keep It in the Background, [https://www.nytimes.com/2013/11/27/realestate/commercial/malls-work-on-their-security-but-keep-it-in-the-background.html#:~:text=Paying%20salaries%20for%20additional%20security,International%20Council%20of%20Shopping%20Centers]" by Ronda Kaysen (New York Times, 2013). * Center Security Services. [https://centersecurityservices.com/retail-security-services/]   * EXTRAS: * "NYPD subway robot, Knightscope, gets sacked after two-month pilot program, [https://theticker.org/13299/news/nypd-subway-robot-knightscope-gets-sacked-after-two-month-pilot-program/#:~:text=Additionally%2C%20community%20concerns%20over%20the,program%20cost%20the%20city%20$12%2C250]" by Vineet Josan (The Ticker, 2024). * "The State of the American Mall, [https://www.nytimes.com/2021/08/10/briefing/shopping-pandemic-american-malls.html]" by Sapna Maheshwari (New York Times, 2021).

How do TV producers decide how much money to give away? A little psychology and a lot of math. Zachary Crockett phones a friend.   * SOURCES: * Bowen Kerins, [https://millionaire.fandom.com/wiki/Bowen_Kerins] math teacher and former contestant on Who Wants to Be A Millionaire. * Arthur Smith [https://asmithco.com/people/arthur-smith/], CEO of A. Smith & Co. Productions and author of "Reach: Hard Lessons and Learned Truths from a Lifetime in Television." * Aaron Solomon, [https://www.imdb.com/name/nm0813280/] television producer.   * RESOURCES: * "‘The Price Is Right’ Celebrates 10,000 Episodes With Extra Big Wins for Contestants That Top Off at $100,000! [https://variety.com/2025/tv/news/price-is-right-ten-thousand-episodes-fun-facts-1236316691/]" by Rosemary Rossi (Variety, 2025). * "Why haven’t more game show prizes been adjusted for inflation? [https://www.marketplace.org/2023/06/29/why-havent-more-game-show-prizes-been-adjusted-for-inflation/]" by Janet Nguyen (Marketplace, 2023). * "Deal or No Deal? Decision Making under Risk in a Large-Payoff Game Show, [https://www.anderson.ucla.edu/documents/areas/fac/accounting/Class%201%20-%20Thaler%20-%20Deal%20or%20No%20Deal.pdf]" by Thierry Post, Martijn J. van den Assem, Guido Baltussen, and Richard Thaler (American Economic Review, 2008). * "Why Game Shows Have Economists Glued to Their TVs, [https://www.wsj.com/articles/SB113703499178844535]" by Charles Florelle (Wall Street Journal, 2006).   * EXTRAS: * "Bowen Kerins on Who Wants to Be a Millionaire [https://www.youtube.com/watch?v=Q-fUMoZjE7s]" (2000).

A fast-food burger has to taste the same — and cost the same — thousands of times a day at restaurants across the country. Zachary Crockett mans the fryer.   * SOURCES: * John Karangis [https://www.linkedin.com/in/john-karangis-470379a3/], vice president of culinary innovation at Shake Shack. * Walter Zuromski [https://chefservicesgroup.com/about-us/walter-zuromski/], owner and chief culinary officer of the Chef Services Group.   * RESOURCES: * "How Shake Shack’s New Test Kitchen Is Shaping the Future of the Brand, [https://ny.eater.com/2018/11/9/17984890/shake-shack-innovation-kitchen-mark-rosati-nyc]" by Stefanie Tuder (Eater, 2018).   * EXTRAS: * "Truffles, [https://freakonomics.com/podcast/truffles/]" by The Economics of Everyday Things (2023).

American golfers lose 300 million balls a year — and all those bad swings are someone else’s business opportunity. Zachary Crockett hits the links.   * SOURCES: * Todd Hutchinson [https://ballhawker.com/pages/about-us], president and owner of BallHawker. * Lashan Wanigatunga [https://www.linkedin.com/in/lashan/], founder of Two Guys With Balls.   * RESOURCES: * "BallHawker, Challenge Enterprises Turn Wayward Golf Shots Into Successful Endeavor [https://www.claytodayonline.com/stories/ballhawker-challenge-enterprises-turn-wayward-golf-shots-into-successful-endeavor,54636]," Natalie Gilstrap (Clay Today, 2023). * "Temecula Golf Ball Diver Nets $100,000 a Year [https://www.cbs8.com/article/news/local/zevely-zone/golf-ball-diver-nets-100000-per-year/509-848402e0-5a10-4e81-8cfe-5123d1e3f61f]," by Jeff Zevely (CBS8, 2022). * "Golf’s Recycled Ball Market is Big Business [https://linksmagazine.com/golfs-recycled-ball-market/]," by Erik Matuszewski (Link, 2021). * "The Inside Story of What the Original Titleist Pro V1 Launch Was Really Like [https://golf.com/gear/golf-balls/20-years-later-insiders-discuss-titleist-pro-v1-launch-vegas/]," Andrew Tursky (Golf Digest, 2020). * "Head of Golf Ball Retrieval Company Sentenced for Manslaughter After Diving Death at Wales Golf Course [https://www.golfdigest.com/story/head-of-golf-ball-retrieval-company-sentenced-for-manslaughter-after-diving-death-at-wales-golf-course]," by Alex Myers (Golf Digest, 2017). * "Man Dies While Illegally Diving for Golf Balls [https://www.golfdigest.com/story/man-dies-while-illegally-diving-for-golf-balls]," by Alex Myers (Golf Digest, 2015).   * EXTRAS: * "Greg Norman Takes On the P.G.A. Tour [https://freakonomics.com/podcast/greg-norman-takes-on-the-pga-tour/]," by People I (Mostly) Admire (2023).