Airlines have “frequent flier” clubs in which customers accumulate miles according to the number of miles they have flown with the airline. Frequent flier miles can then be used to purchase other...

Airlines have “frequent flier” clubs in which customers accumulate miles according to the number of miles they have flown with the airline. Frequent flier miles can then be used to purchase other flights, to rent cars, or to stay in some hotels. Are frequent flier miles money?