How do you sell a Coke with one coin but charge a price between 5¢ and 10¢?
Probabilistic Coke Pricing
In 1950 Coke had a problem. They had been selling bottles for 5¢ but inflation was making this impractical. They wanted to raise prices, but vending machine technology was an issue. Over 25% of their sales were through their 400k vending machines, which were almost all "nickle only". By limiting the machines to a single coin, they could get a very reliable mechanism. The problem is, the next ...
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