Posted 2011-09-13 15:10 under interactive, business models, simulation
Vending and parking machines often display the message "no change provided", and retain any payment above the required amount. This is mildly annoying, but we live with it. But it got me asking what the value of this policy is to the vendor. Here is an interactive dashboard that uses random sampling to estimate the value of retaining change across many small transactions.
Posted 2011-08-25 14:51 under parking, business models, interactive, visualization
Last week, I received an GBP 60 parking violation ticket while parking at a museum, even though I paid for parking in advance and displayed my ticket on the dashboard as instructed. The charge is still being disputed, but the private parking company (PPC) involved has a good incentive to deny my appeal, however logical. That's because penalties can be hugely profitable for this unregulated industry. Let's look at the numbers.
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