A couple of weeks ago I visited two of my cohort mates in Los Angeles. It was freezing in DC, and the opportunity to cash in my miles and seek warmer ground was a no-brainer.
It was amazing! Thirty minutes after arriving at LAX and after jamming my down wintercoat into my suitcase, I was eating lunch at a Santa Monica eatery with the sun on my face and the Pacific Ocean in my view.
The next few days were a whirlwind: shopping in Santa Monica, racing down Pacific Coast Highway, soaking in the art and gardens at the Getty Museum, standing in line for an ice cream sandwich at Diddy Riese near the UCLA campus, boutiquing in Westwood, riding the winding Malibu canyon on a Harley and stopping at the Rock Store off of Mulholland Hwy, bowling at the infamous bowling alley from the Big Lebowski (mark it zero, please), taking an hour to go 4 blocks in infamous traffic (ok, not so fun), and celebrity sight-seeing (I swear I saw Khloe).
As I sit here in DC a few weeks later, I smile as I think about how different this trip to LA was compared to my previous visits. I’d been to LA a couple of times for both vacation and business, but I felt like I saw this trip differently.
For example, while in the legendary line getting my ice cream sandwich at Diddy Riese for $1.50 and feeling an instant exhilaration at how cheap and delicious a deal this was, I then realized that this was an exact example of what one of my professors called “consumer surplus.” Good thing Diddy Riese doesn’t know just exactly how much I would indeed be willing to pay for that there sandwich. As I walked out of their shop, I wondered how Diddy Riese could possibly be making money charging such deliciousness at such an obscenely low rate? I glanced at the long line that I had just been standing in and remembered the concepts of volume sales and cost efficient goods providers. Gotcha. Of course, both concepts flew out of my mind as I polished off the rest of my sandwich. In fact, much of what I was thinking flew out as I finished such deliciousness.
Being an MBA student has given me another way of viewing the world around me: it’s like I’m now traveling with 3D glasses with my newly acquired knowledge. One semester in, I was sitting in my free ticket seat and wondering what dynamic pricing models my airlines had used in offering seats on the plane to wondering what the size of endowment and interest rate the Getty might need to operate such a facility for the public good. It was as if I saw business everywhere and it made the strings of connecting everything so much more vibrant and clear.
I’m looking forward to going on one of the study abroad trips that Kogod is offering over the next break. I’ll have gone through six more classes and learned a slew of other concepts and developed a host of skills. On that note, maybe I’ll try considering consumer surplus while consuming macaroons and an espresso from Ladurées on the Champs Elysées next? Oui! Oui!