Behavioral Economics

by on April 20, 2010 at 6:10 am in Economics, Food and Drink | Permalink

Our goal is to exceed your expectations every time you visit.

Sign in the NYC Au Bon Pain that I had breakfast in this morning.

1 Andrew April 20, 2010 at 6:19 am

Reminds me of the sign at the local Steak House.

“Free Beer Tomorrow”

2 Bill April 20, 2010 at 7:47 am

You are in New York.

They’re just confident your expectations are low.

3 Seth Roberts April 20, 2010 at 8:08 am

They’re not the first. “A man’s reach should exceed his grasp, or what’s a heaven for?†–Robert Browning.

4 liberalarts April 20, 2010 at 8:31 am

Maybe they could generate a continuous stream of rumors about people who got food poisoning there, etc. Then not getting food poisoning would always be a win. Or, if you never come back, then the sign is fulfilled, so maybe they are planning on shutting down soon.

5 Econweekly April 20, 2010 at 9:33 am

Au Bon Pain’s is very ambitious, and the key words, I think, are “every time you visit.” In my experience, expectations are backward-looking, and people have memory.

6 LemmusLemmus April 20, 2010 at 11:17 am

Shakespeare, in his typical one-upmanship, offers this: “he hath, indeed, better bettered expectation than you must expect of me to tell you how.” (The Govenor of Messina about Claudio, Measure for Measure, I, i). In thy face, Au Bon Pain.

7 wlu2009 April 20, 2010 at 11:50 am

Reminds me of a coach I had in high school who would implore us all to play above our potential.

8 Mike April 20, 2010 at 5:40 pm

The things thats funny here is that the first time you go to the restaurant you will re-adjust your expectations based on your experience. So, in order for them to continually surpass your expectations means that each time you go the service & food will need to be better than the last time you visited. I guess this means as the number of visits go to infinity the quality of food goes to…?

9 Ken April 21, 2010 at 4:59 pm

>>So either ABP doesn’t believe in rational expectations (or revision of the reference point in general, I suppose) or it’s are going to embark on a never-ending service spiral …etc.>>

No, adjustment of expectations is a Bayesian process. Suppose your samples are perfectly consistent, from a universe of perfect consistency. If you start with an a priori estimate of the universe which is lower than the actual universe, then adjust your estimate each time your sample exceeds your estimate, your estimate will continually rise, but will never reach the actual value of the universe.

10 liangliang June 18, 2010 at 10:58 pm

Said Obama: “That’s a town that
Abercrombie Outerwears has had some tough times.” The president said it would be a wonderful statement to Cleveland if James said: “I’m going to make a commitment to Abercrombie Tees this city.”
The president stuck to his point that abercrombie kids James needs to find a winning situation with a good team and coach.

11 Allonline February 19, 2011 at 10:42 am

“Such an interesting story to read and I enjoyed reading it as well. Keep up the good work.”

12 sonic March 1, 2011 at 11:40 am

To be honest, I even could not imagine how hard it is to find decent piece of info on the above topic. It took me a couple of hours before I came across your site.

Comments on this entry are closed.

Previous post:

Next post: