Step aside Monopoly, a fresh economics-themed board game is making waves in the market!
Recently, Planet Money collaborated with Exploding Kittens to develop a unique board game, with every step chronicled in this podcast series.
The game, now available in multiple retail outlets, is called Sell Me A Sasquatch.
With its roots embedded in economic principles, Sell Me A Sasquatch is crafted for players aged 10 and above, ensuring that it’s not just for economic enthusiasts.
If you have a penchant for economics or are just curious, today’s insights will unveil the economic concepts that breathe life into the game, alongside the hidden references and jokes we incorporated.
The Economics Driving Sell Me A Sasquatch
Central to Sell Me A Sasquatch is the inspiration drawn from the renowned economics paper, “The Market for Lemons,” by George Akerlof, published in 1970. Akerlof’s groundbreaking work, which earned him a Nobel Prize, focuses on the significance of information in maintaining a functional marketplace, particularly highlighting the issue of “asymmetric information.”
Consider buying a used car. Some cars are gems, while others are mere “lemons” (an old term for junk). Akerlof’s paper points out that the buyer struggles to distinguish between the two, leading to reluctance in paying full price due to the associated risks, resulting in price reductions.
This subsequently discourages owners of high-quality cars from selling, while owners of lemons are pleased to sell at those prices. Eventually, the market becomes saturated with lemons, further driving down prices and quality, a process termed “adverse selection.” This cycle can destabilize entire markets, a phenomenon observable in dating apps and health insurance.
In Sell Me A Sasquatch, these economic principles take a playful turn. Instead of cars, players trade creatures and cryptids, navigating with limited information. As the game progresses, trust erodes, adverse selection intensifies, and the game spirals into delightful chaos.
What’s intriguing is that players might pick up the game for its artwork or the reputation of Exploding Kittens, and unknowingly engage in the same dynamics that can disrupt markets. For those in the know, this adds an extra layer of depth.
Easter Eggs in Sell Me A Sasquatch
Beyond its foundational concepts, the game is sprinkled with economic references throughout.
Players will encounter cards adorned with various cryptids. We sought economic twists for some and received over 1,600 creative submissions from Planet Money listeners. Here are some standout examples:
The Laffer
/ Exploding Kittens
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Exploding Kittens
This laughing hyena symbolizes the Laffer Curve, a debated economic theory by Arthur Laffer. It suggests that tax rates can reach levels that dissuade work and investment, thereby reducing tax revenues.
Picture tax rates at 0%, resulting in no revenue. At 100%, the government collects all income, discouraging work and investment, and lowering revenue.
The Laffer Curve proposes an optimal tax rate that maximizes revenue. However, pinpointing this rate is contentious. While Laffer and supply-side economists argue some tax cuts could boost revenue, others believe U.S. rates haven’t been high enough for this to hold true, maintaining that tax cuts typically decrease revenue despite potential economic boosts.
Scabby
/ Exploding Kittens
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Exploding Kittens
Scabby pays homage to a classic episode of Planet Money about labor strikes. Named after Scabby the Rat, a large inflatable rat symbolizing labor disputes, it’s commonly seen on picket lines across the U.S. Listen to this episode for further insights.
The BullBear
/ Exploding Kittens
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Exploding Kittens
In the stock market, a bull market signifies rising values, while a bear market indicates declines. Investors in a bull market remain optimistic, whereas bears are cautious.
Planet Money listener Christina challenged us: “Combine them into one creature, I dare you,” she wrote.
Thus, we created this dual-natured creature, embodying both bullish and bearish sentiments about market trends. Its ambivalence is surprisingly relatable.
The Veblen
This extravagant peacock is inspired by economist Thorstein Veblen, who coined “conspicuous consumption” in his 1899 work The Theory of the Leisure Class.
/ Exploding Kittens
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Exploding Kittens
The concept explores how people buy luxury items not merely for utility, but to flaunt wealth or status. Think luxury cars or designer handbags; part of their appeal is the status they confer.
Take it further, and you get a Veblen good, where demand increases with price hikes. As explored in a listener questions episode, higher prices can make such goods more desirable.
Enter the peacock, with its impractical but impressive tail. It’s nature’s version of a status symbol, making it an apt representation of Veblen’s ideas.
Tune into Our Next Episode
There’s more to discover in the game. Our Planet Money board game series continues on August 21, exploring the product selection process in stores. Follow the podcast to stay updated. If you spot the game and hold a game night, share these Easter eggs with friends and let us know how it goes. While it may not be for everyone, those who appreciate it will surely enjoy the depth it brings.
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