The problem here is how to keep from theorizing a tautology, but I think the phenomenon is similar to those occasions when, the jackpot being high enough, I indulge in buying a lottery ticket. No, I don’t think I’m going to beat the 150 million to one or whatever it is odds, but I do derive at least a dollar’s worth of pleasure being able to fantasize about all that money until the drawing. Anyway, I’m thinking that for Cleveland Cavalier or James fans, the experience of participating in the event is more important than the cheap pizza, itself, rather like the way fans will wait for hours just to catch a glimpse of their idols.

But, hey, it isn’t like a person’s time is valuable, too, is it?

AMW wrote:

…surely a large chunk of quantity demanded looks at the line, shrugs its shoulders and moves on to consume something else.

Well, that describes me! I live just outside of Akron, Ohio — and I’m a LeBron fan. We wanted to get our pizza but paid for a Hungry Howie’s Pizza instead.

The Papa Johns’ 23 cent deal extended from Toledo, down to Wooster and Canton, all the way over to Youngstown. In other words, nearly the entire northern-third of the state.

The line at our local Papa Johns’, which is walking distance from my house, was running two to three hours in the middle of the afternoon. They were no longer taking phone orders. You stood in line, and you got the plain pizza they made as it came out of the oven.

We decided it wasn’t worth the time — not to mention that has a family just one pizza is only an appetizer (two is our standard order) and we all prefer toppings. So we used our two for one card at Hungry Howie’s Pizza.

Interestingly, Hungry Howie’s was busy. Papa John’s built up demand for pizza in general. So when people saw the line, they, like us, didn’t give up on their desire.