tag:blogger.com,1999:blog-7169279.post5429602267635943944..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: Nintendo: No Price Cut for Wii for NowDr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-7169279.post-91641496419719422602009-12-23T04:25:07.947-07:002009-12-23T04:25:07.947-07:00Got the Black Wii limited edition for a cheap pric...Got the Black Wii limited edition for a cheap price :)<br />Tried the Bowling game included with the console. It's so addictive !sudoku dailyhttp://www.domo-sudoku.comnoreply@blogger.comtag:blogger.com,1999:blog-7169279.post-73346551749998252932008-04-15T20:07:00.000-06:002008-04-15T20:07:00.000-06:00Dr. Tufte said that Nintendo’s demand is inelastic...Dr. Tufte said that Nintendo’s demand is inelastic because it has few substitutes. This is absolutely true anyone that has played the WII knows that it is a unique experience.carterhttps://www.blogger.com/profile/05176187104000148384noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-73274273107498153832008-04-05T13:50:00.000-06:002008-04-05T13:50:00.000-06:00Dr. Tufte,I think that Nintendo is very smart in b...Dr. Tufte,<BR/>I think that Nintendo is very smart in being able to create something that no one else has been able to. Nothing in the gaming industry seems to come even close, which as you pointed out has helped to make it inelastic and they can therefore maintain their price and not have to lower it. Another thing that I think that the Wii has going for it is that it is a lot more interactiveWilliamhttps://www.blogger.com/profile/09091219498842177845noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-61519333197063237542008-03-31T09:51:00.000-06:002008-03-31T09:51:00.000-06:00Extra Credit - Dr. TufteNintendo was wise to creat...Extra Credit - Dr. Tufte<BR/>Nintendo was wise to create a product that had few substitutes. Now we will see how well Nintendo can maintain its position in the interactive market. The elasticity of their product can change rapidly if the other consoles become interactive.Gavinhttps://www.blogger.com/profile/04581522223831636340noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-66540326129796227522008-03-08T16:51:00.000-07:002008-03-08T16:51:00.000-07:00Dr. Tufte said that Nintendo's ability to maintain...Dr. Tufte said that Nintendo's ability to maintain their price for the Wii has to do with elasticity. Because there are few direct substitutes for a video game console as interactive and differentiated as the Wii, the demand has stayed quite inelastic. I agree that this is true and that Nintendo has created their own new market for video game consoles. It will be interesting to see what Matthewhttps://www.blogger.com/profile/12123732548787517799noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-69459860555249425632007-11-17T20:48:00.000-07:002007-11-17T20:48:00.000-07:00The Wii is such a unique product that it is no won...The Wii is such a unique product that it is no wonder that the gaming console does not have any real strict competition. This is a simple lesson of supply and demand and elasticity and inelasticity. Thus, until some other company comes out with an absolutely amazing gaming system, Nintendo should not drop the price it charges for the system.Sophiehttps://www.blogger.com/profile/14630022479763964801noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-33729303269706504442007-11-14T13:11:00.000-07:002007-11-14T13:11:00.000-07:00Interesting.Their ability to maintain a price has ...Interesting.<BR/><BR/>Their ability to maintain a price has to do with elasticity (just as their initial markup did).<BR/><BR/>What we are seeing here is demand for other consoles becoming more elastic with time (because they are viewed as substitutes), while Nintendo's demand is staying inelastic because there aren't many substitutes.Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-3000971211161564752007-11-09T18:24:00.000-07:002007-11-09T18:24:00.000-07:00I agree with your comment about Nintendo setting i...I agree with your comment about Nintendo setting its own price. Another thing I think is interesting about the Wii is that from the beginning the price of the Wii was very reasonable compared to other gaming systems. I think that they have set the price low enough that those who could not afford a cutting edge system before can now more easily afford the Wii. It was a smart move by Nintendo.Jennahttps://www.blogger.com/profile/10010253463144367481noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-88452715597070607432007-10-31T16:57:00.000-06:002007-10-31T16:57:00.000-06:00The catch with the technology industry is that pri...The catch with the technology industry is that prices tend to drop naturally because of Moore's Law, in that technology is expected to double its capacity every 6 months or so, making the old technology obsolete.<BR/><BR/>So when you have a product that continues to bring in profits counter to expectations (steady or increasing versus decreasing) you need to maintain status quo regarding price Travis Sheffieldhttps://www.blogger.com/profile/12163797443677025832noreply@blogger.com