What an economics Nobel Prize winner knows about pricing

What BBN said about it

1. 

   Vera Bullock · Co-AnchorOkay, here is something that warms me up this early in the morning: Michael Woodford of Columbia University just won the Nobel Prize in Economics, and he is one of two Americans to get it.

2. 

   Gloria Vance · World News AnchorNPR's Ailsa Chang sat down with him to ask what he knows about pricing, which is a question most of us ask at the checkout line.

3. 

   Vera Bullock · Co-AnchorAnd I just love that somebody spent a whole career figuring out why things cost what they cost, and then somebody else said, you deserve a medal for that. Sorry, it's the hour.

4. 

   Gloria Vance · World News AnchorIt's a very pretty medal.

5. 

   Vera Bullock · Co-AnchorIt's a growth opportunity for all of us, Gloria. We could all learn why a coffee costs what it costs.

6. 

   Gloria Vance · World News AnchorI'm told the answer is a Nobel Prize, and the coffee is still the same price.