Bloomington's Miller Park Zoo has raised $20,884 this holiday season selling necklaces and ornaments made from reindeer droppings.The droppings are dime-sized, dehydrated, sterilized and spray-painted with glitter. They're called "Magical Reindeer Gems."
So much for rational people thinking at the margin... The article states that the zoo made approximately 2300 units, which means people paid $9.03 for a necklace or ornament. I don't see how any rational person could determine that the marginal benefit outweighs the marginal cost in a transaction as such. A person pays $9.03, and in return they get a piece of sparkly reindeer crap to hang from their necks and their Christmas trees. Very rational. However, there is one sad, underlying fact about this situation: I'm not surprised at all.
there are stupid people in the world. Did the people who bought these ornaments know that they were made of reindeer droppings?
ReplyDeletePeople buy ridiculous things all the time. What gets me is how people figured out how to sell something like that. How could anyone know that it was a marketable item. What's worse is that their action has become a marketable skill.
ReplyDeleteHey, it works. The zoo gets money, the people get the novelty of saying "Why yes, this IS genuine reindeer manure." I think it's a rather clever idea--and certainly the market for things like this is less competitive. Even if paying for what amounts to decorative reindeer ordure doesn't seem like the best idea, it allowed for both people to support the zoo and have a conversation starter. A
ReplyDeleteJust imagine a husband saying "merry christmas honey. I wanted to get you a diamond necklace for Christmas, but when the recession got worse and I got laid off I couldn't afford one anymore. So, I got you this nice reindeer poop one instead. Merry Christmas =D"
ReplyDeletelolol
This idea is the epitome of being environmentally friendly. Instead of shoveling the manure into lagoons (which is what CAFO's, or Concentrated Animal Feeding Operations, do) which pollute the earth even more, the zoo makes a profit off of the reindeer.
ReplyDeleteI work at a zoo outside of Chicago which promotes conservation leadership and awareness for environmental problems by teaching people about animals. Bloomington's zoo may be doing the same thing. By making a profit from waste, the zoo not only reduces their carbon footprint but promotes a greater appreciation for these animals. To these consumers, the product is not just crap, but a keepsake or a joke.
Either way, the zoo is thinking like an economist and an environmentalist. Kudos.
E,T
This comment has been removed by the author.
ReplyDeleteI read this story to my roommate and her response was: "Cool, I want one!" So let's just hope that Rich's fictional husband is married to my roommate.
ReplyDeleteI also think this story concretely proves that an eleventh principle of economics ought to be added describing the role that sparkles play in skewing the free market. E,T
I respect what everyone has said, but to me, poop is poop. And I wouldn't want any type of it hanging from my neck.
ReplyDeleteI have to give props to whoever thought of making the necklaces, it was obviously successful. Although, I am quite surprised that the zoo was able to sell the necklaces even though they charged $9.
But, hey, who am I to keep people from spending their money on reindeer poop?
E,A
I agree with everyone that it's not a very rational way to think but it's the odd stuff that sells. Reindeer poop at a zoo is in a great supply I would imagine so why not answer the demand for ridiculous gifts. People love things that are unique and different. I think it's a great way to raise money for the zoo and I wouldn't be surprised if other zoos join in. Maybe next year you can buy a elephant poop earring. A,E
ReplyDeletehave you heard about elephant poop paper? supposedly their dropping contain so much cellulose from their all plant diet that once dried they make excellent artistic paper for stationary!
ReplyDeleteThis is even more brutal!
ReplyDeletehttp://www.pocket-lint.com/news/2287/ebay-listing-auction-selling-soul
It is always fun to try new and bizarre things. Maybe it is more profitable to sell the droppings in the form of Christmas ornaments and necklaces instead of fertilizer. I wonder how much those would sell for on ebay. (A)
ReplyDeleteIf anything, I would have to give credit to the zoo and those who came up with this ideas. My hat goes off to them for making a profit off of something that would otherwise be absurd to purchase. People can buy whatever floats their boat I suppose, in this case, sparkly poop jewelry.
ReplyDeleteThere are some people that buy unnecessary things and later end up with any money for rent. Amazing but true, people buy the most random items in the market now days and those random items tend to be the most expensive ones. Coming from the zoos point of view, although its poop that they are selling, its selling good and the zoo is the one making profit so it must have been a pretty good idea. Not only are they looking at it from an economist view but it’s also environmental friendly too. E,A
ReplyDeleteI don't blame them. I'm always ready to drop a couple thousand on the latest food item shaped like Elvis or Jesus.
ReplyDeleteIt might sound ridiculous, but I think the seller is a kind of smart to do so. Sometimes people want to try something new that is unique and special for holidays and they get tired of normal stuff. As long as the poop is decorated in a fancy way and it is really a creative production, it's not that strange that the zoo can make a big profit from it. E,A
ReplyDeleteThis to me seems like another case of people believing anything and wanting the newest and most unique item possible. I agree with the author of this article, the marginal benefit does not outweigh the marginal cost. They literally paid for reindeer stool. Unbelievable.
ReplyDeleteWell, thinking on the side of the buyer, I can see them thinking marginally,, especially when scarcity comes into play. I'm offering this theoretical story for you:
ReplyDeleteLet's say you want to support the zoo by buying from their gift shop, but you want to buy something unique to the zoo and produced at the zoo(i.e. not another plastic toy or tshirt, all of course made in china). Lets say then, that the zoo only produces three items, making actual zoo mementos scarce. You have the art work from Eunice, the zoo's famous painting Capybara which are hundreds of dollars and are on bulky canvases. a framed elephant footprint for $40, and of course, the ten dollar poo necklace. Thinking marginally, you want the shiny poo because the others two options would be expensive and bulky, and in general items specifically produced by zoos are hard to come by. A E T
This comment has been removed by the author.
ReplyDeleteI believe this is a clear sign of the times. In this recession, people who are unemployed cannot afford to buy their loved one's diamond necklaces. Instead, they have to make concessions and if that means buying necklaces that are made from deer droppings, well, it really is the thought that counts anyway. I don't believe any loved one would be disappointed anyway, because in this very scary time, saving is becoming and has become the number one priority. You save now and make some sacrifices, such as substituting a diamond necklace with a deer dropping necklace, because you know down the road, doing that will have payed off. Payed off in a way that a diamond necklace will be what's around one of your loved one's neck's instead of magical reindeer gems. E
ReplyDeleteThis goes along perfectly with the point we made in class: People are NOT rational.
ReplyDelete