Gasparilla economics experiment with the family
BY MATTHEW HACKL
There are few times in life you find the opportunity to upgrade from uncle to “the cool uncle.”
My venture arrived in the form of a Gasparilla Island shopping spree. James, 11, William, nine, and Marguerite, four, (affectionately known by all as “Sister”) completed their daily cycle of watching a movie, going to the beach, and eating Pink Pony by mid-afternoon. They moved on to looking for trouble around the house. To minimize furniture damage, I needed to distract my niece and nephews quickly with an activity spanning over multiple days … but how?
The game was simple: I took them shopping! I just threw in a few rules on the side to get some enjoyment out of the experience.
1. They could each pick out one gift for themselves for under $30.
2. Only one item per nephew/niece allowed, they could not purchase multiple items adding up to their buying limit.
3. They could team up: two may join for a gift worth $60, or all three together for $90.
4. This last stipulation made the scientific experiment most entertaining: Each day they delayed buying, the price limit increased $5.
5. The stage was finally set. The boys scoured town for deals under the price limit to no avail, needing reminders at each store they were only allowed one item. Sister followed in amusement surveying stores with no inclination towards a purchase. No deals were made on our first day.
On our second day, Boogie Boards became the obsession. All three children were hoping to take part in replicating scenes from the day’s library movie rental Surf’s Up. Our buyers had their minds made even before entering the first store that day. Boards-in-hand, single-filed in the checkout line under their price limit, they balked. They slowly changed their demeanor as I prepared to pay. Waiting in the checkout line caused their heads to fill with possibilities of what tomorrow’s $40 could bring and the overwhelming question of how much better-off they would be with five more dollars. That feeling landed us with nothing to show for our second day.
On our last day, with $40 and a newfound confidence ready to make a purchase, we hit the shops. My predictions came nowhere close to our outcome: James bought a snorkel set for $15, Sister bought the smaller version of the same item for $14, and William bought a Screaming Chicken for $11.
My wallet was pleasantly surprised, but the flight attendants on the flight back home to Indiana were not.
The shopping experience with my niece and nephews taught all four of us delayed gratification as well as the importance of opportunity costs. Throughout our three days on the island, they considered hundreds of toys, shirts, and games that would make their lives so much better with the impossible task of choosing one. I never expected they would each buy something at least $25 less than their top-spending amount. William, being the jokester of the group, wanted a way to get a laugh every time he used his toy and get attention in the process: a win-win for him. James and Sister wanted toys they could use together and still get utility from back home at the swimming pool. All three found the most valuable gift for themselves and had a lot of fun in the process.
I gave their parents several hours of peace and quiet.
Everyone left happy with a physical reminder of how much fun we had while in Boca Grande.
About the author: Matthew Hackl, 25, was born and raised in Carmel, Indiana. As the caboose in a family of eight children, he finds peace in yearly retreats to Boca Grande. On the island, his favorite activities include running on the bike path, sketching beach-front properties and striking up conversations with unfamiliar faces. Matthew fostered a career in logistics post-graduation from the University of Dayton. He spends his energy and efforts searching for further intersection between arts and business by writing, drawing and creating music in his free time.
