The Economics of Everyday Things

Why are these 300-year-old instruments still coveted by violinists today? And how do working musicians get their hands on multimillion-dollar antiques? Zachary Crockett is not fiddling around.

• SOURCES:
  • Frank Almond, professional violinist.
  • Ziv Arazi, co-owner of Rare Violins of New York.
  • Bruno Price, co-owner of Rare Violins of New York.
• RESOURCES:
  • "When It Comes to String Instruments, Stradivariuses Are Still Pitch Perfect," by Ted Scheinman (Smithsonian Magazine, 2022).
  • "Study Confirms Superior Sound of Stradivari Is Due to How Wood Was Treated," by Jennifer Ouellette (Ars Technica, 2021).
  • "The Case of the Stolen Stradivarius," (FBI News, 2015).
  • "A High-Strung Market," by E. H. B. (The Economist, 2013).
  • "Violins For Music — And Investment Returns," by Michael S. Fischer (Financial Advisor, 2013).
  • "Stradivarius Fetches Record $16 Million in Charity Sale," (Reuters, 2011).
• EXTRA:
  • A Violin's Life, album series by Frank Almond (2013).

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, math teacher and former contestant on Who Wants to Be A Millionaire.
  • Arthur Smith, CEO of A. Smith & Co. Productions and author of "Reach: Hard Lessons and Learned Truths from a Lifetime in Television."
  • Aaron Solomon, television producer.
• RESOURCES:
  • "‘The Price Is Right’ Celebrates 10,000 Episodes With Extra Big Wins for Contestants That Top Off at $100,000!" by Rosemary Rossi (Variety, 2025).
  • "Why haven’t 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," 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," by Charles Florelle (Wall Street Journal, 2006).
• EXTRAS:
  • "Bowen Kerins on Who Wants to Be a Millionaire" (2000).

Picture day is an annual tradition for American families — and, for the companies that take the photos, a lucrative one. Zachary Crockett smiles for the camera.

• SOURCES:
  • Ken Murphy, C.E.O. of Lifetouch
  • Jeremy McColm, senior manager of photography at Lifetouch
• RESOURCES:
  • "The money and stress and failed hairdos of school picture day," by Kaitlyn Tiffany (Vox, 2019)
  • "The School Photo Industry Is a Master Class in Drama," by David Gauvey Herbert (New York Times, 2019)
  • "With Lifetouch Acquisition, Shutterfly Claims Leadership In Picture Memories Market," by Pamela Danziger (Forbes, 2018)
  • "Exclusive School Photography Agreement" (Vernon Public School District, 2019)
• EXTRAS:
  • "Money Schools Earn From Student Portraits Varies Widely," by Scott MacFarlane, Rick Yarborough, and Jeff Piper (NBC News Washington, 2016)

Why is it separate from medical insurance? And is it really insurance at all? Zachary Crockett goes in for a cleaning.

• SOURCES:
  • Brad Bolman, postdoctoral member of the School of Historical Studies at the Institute for Advanced Study.
  • Pamela Maragliano-Muniz, prosthodontist and chief editor for Dental Economics.
  • Wendell Potter, president of the Center for Health and Democracy; former executive at Cigna.
• RESOURCES:
  • "Dental Medical Loss Ratios: Understanding the Landscape in Massachusetts and Beyond," by Shaza Stevenson, Megan D’Alessandro, Sandra Wilkniss, and Nicole Evans (National Academy for State Health Policy Blog, 2023).
  • "Health Insurance Coverage in the United States: 2021," by Katherine Keisler-Starkey and Lisa N. Bunch (U.S. Census Bureau Reports, 2022).
  • "Medicare and Dental Coverage: A Closer Look," by Meredith Freed, Nancy Ochieng, Nolan Sroczynski, Anthony Damico, and Krutika Amin (KFF, 2021).
  • "Dentists’ Group Fights Plan to Cover Dental Benefits Under Medicare," by Julie Bykowicz (The Wall Street Journal, 2021).
  • "Antisocial Dentistry," by Brad Bolman (Hypocrite Reader, 2021).
• EXTRAS:
  • "'Insurance Is Sexy.' Discuss," by Freakonomics Radio (2023).
  • "Does Health Insurance Make You Healthier?" by Freakonomics, M.D. (2022).

Behind that 70% off sign, there’s a liquidation consultant trying to maximize retailer profits. Zachary Crockett seeks a deal.

• SOURCES:
  • Bradley Snyder, executive managing director at Tiger Group.
  • Zac Rogers, associate professor of supply chain management at Colorado State University
• RESOURCES:
  • "What Went Wrong: The Demise of Toys R Us," by Angie Basiouny (Knowledge at Wharton, 2018)
  • "Retail apocalypse 2024: All the once-popular stores and restaurants that shuttered locations this year," by Sarah Bregel (Forbes, 2024)
  • "BBB Tip: Avoid bogus bargains at going out of business sales" by Better Business Bureau (2024)
  • "There’s a science and art to running a going-out-of-business sale. (And business is booming.)" by Courtney Reagan (CNBC, 2018)
• EXTRAS:
  • "I don't wanna grow up: The first day of the end of our childhoods," by Mike Higdon (Reno Gazette-Journal, 2018)