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Dramatic expansion of small retail convenience stores

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Reference no: EM131237232

In the last decade or so there has been a dramatic expansion of small retail convenience stores (such as 7 Eleven, Kwik

Shop, and Circle K), although their prices are generally much higher than prices

In large supermarkets. What explains the success of the convenience stores?

Relate how behavioral economics and prospect theory shed light on many consumer behaviors.

Reference no: EM131237232

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