An Economist Traverses West Africa
Itinerary
Day 1:
Accra, Ghana
✈️ Ever realized days into travels that you were ripped off?
Often, what feels like being scammed while traveling is just information asymmetry at play — a vendor knows the local price, you don't. The “ignorance gap” makes the difference.
This travel journal explores these kinds of economic observations as I traverse Ghana🇬🇭 , Togo🇹🇬 and Benin🇧🇯.
🚕 Economics lives in taxi queues: Upon exiting the airport, I was quoted £17 to get into town. I opened Uber — £5. I showed the driver, his price dropped. Information asymmetry collapsed the moment I had a reference price — shifted bargaining power from seller to buyer.
🌿 The theory is applicable more widely. I met a researcher today using a similar price discovery logic to help Shea butter farmers here better negotiate with procurers.
Day 2:
Accra, Ghana
✈️ Ever realized days into travels that you were ripped off?
Often, what feels like being scammed while traveling is just information asymmetry at play — a vendor knows the local price, you don't. The “ignorance gap” makes the difference.
This travel journal explores these kinds of economic observations as I traverse Ghana🇬🇭 , Togo🇹🇬 and Benin🇧🇯.
🚕 Economics lives in taxi queues: Upon exiting the airport, I was quoted £17 to get into town. I opened Uber — £5. I showed the driver, his price dropped. Information asymmetry collapsed the moment I had a reference price — shifted bargaining power from seller to buyer.
🌿 The theory is applicable more widely. I met a researcher today using a similar price discovery logic to help Shea butter farmers here better negotiate with procurers.