The final exam for Economics 101 is not held in a university classroom. United apparently asked for volunteers to leave the overbooked flight, first offering a $400 voucher for future travel, and then upping the offer to $800. But United did not get the four volunteers it needed, so the airline ordered four passengers off the plane. United executives should also understand that their vouchers are perceived to have less value than cash, especially by anyone who has tried to redeem frequent flier miles. So let’s go back to the initial failure of the United executives.

Source: Forbes April 11, 2017 16:52 UTC