How Much Are Free Pancakes Worth?

I remember a few months ago when some guys I work with were super excited about free pancakes at IHOP.  One guy went there for breakfast and  lunch as well.  He spent ~$4 plus a tip that morning at IHOP getting some sausage links and a drink to go with his “free” pancakes.  This doesn’t make sense to me.

For starters, he’s never gone to IHOP for breakfast before work to my knowledge–why is he all of a sudden crazy about their pancakes?  Secondly, he could buy the exact same sausage links and coffee at our cafeteria at work for half the price.  Granted, the quality isn’t as good, but still.
In other words, something being free doesn’t necessarily make it something I want.

I’ve heard people say, and have seen it firsthand, that you can the “free” label on anything and folks will stand in line to get it.  Ever seen people standing around to get a “free” t-shirt or coozy with some company’s ad on it?

My feeling is that I should be getting paid to wear that t-shirt or drink from that coozy.  I’m cool (haha) and I’m advertising for them.

And since they have no value (at least today), IHOP should pay me to eat those pancakes.

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