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The cost to IKEA of the incident was estimated to be between $6 and $7 million. [7] In 1999, IKEA replaced the lacquer coating on the white bookcase with melamine foil. [1] In 2009 Bloomberg instigated a "Billy bookcase index", as an alternative to the Big Mac index, to compare relative price levels in different countries around the world. [8] [9]
The IKEA effect is a cognitive bias in which consumers place a disproportionately high value on products they partially created. The name refers to Swedish manufacturer and furniture retailer IKEA, which sells many items of furniture that require assembly.
IKEA (/ aɪ ˈ k iː ə / eye-KEE-ə, Swedish:), is a multinational conglomerate founded in Sweden [6] [7] that designs and sells ready-to-assemble furniture, household goods, and various related services.
[8] [11] The company's first product is the Apple I, a computer designed and hand-built entirely by Wozniak. [12] To finance its creation, Jobs sold his Volkswagen Bus, and Wozniak sold his HP-65 calculator. [13]: 57 Neither received the full selling price but in total earned $1,300 (equivalent to $7,000 in 2023).
Farmer Palmer – a paranoid, money-grabbing farmer with an inbred son and daughter (who go on to marry each other) whose catch phrase is "Get orf moi laaaand!". He frequently berates and physically threatens (usually with a double-barrelled shotgun) innocent members of the public for encroaching on his property, yet he hypocritically treats the countryside with complete disdain.
A massive complex of tunnels underneath Beijing, built in the Cold War as a nuclear bomb shelter, fitted with facilities such as schools, clinics, factories and even an ice rink. Villaggio Mall: A Qatari shopping mall built to resemble an Italian town, with Venetian canals and gondolas. Also notorious for being the site of a deadly nursery fire ...