United StatesThis article discusses the 'pay-what-you-want' (PWYW) pricing model, which allows customers to decide how much they want to pay for goods or services. While traditionally used in places like museums and churches, entrepreneurs and artists are experimenting with this approach in more unconventional settings. The piece features interviews with several individuals who have implemented the model, including a coffee shop owner, a musician, and a creative reuse store operator. It also includes insights from Shelle Santana, a marketing professor who researches the PWYW model and explains why it challenges traditional economic theories.
Bias read (Center): The article focuses on a business model and its implications for economics, without taking a stance on political issues. It presents perspectives from various entrepreneurs and academics without apparent bias toward any particular ideological viewpoint.
