Price Discrimination - Why some people pay less

Discounts for the elderly or students may seem generous - but they win more customers. When businesses ask how they can make as much money as possible from each customer, they need a sophisticated pricing strategy. Betsey Stevenson and Justin Wolfers take a look at who gets a discount and why.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media Production