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Things in efficient markets ARE priced according to the cost of the supplier. But most markets are not efficient. This is not the fault of the customer.
by Super_Jambo 16y ago
Things in efficient markets ARE priced according to the cost of the supplier. But most markets are not efficient. This is not the fault of the customer.
- anamax 16y ago> Things in efficient markets ARE priced according to the cost of the supplier. Not if you're selling to humans. Humans value things other than price and features. There are goods that will only sell if they cost considerably more than the cost of production. The efficient market hypothesis may be true, but only if you consider all costs and benefits and even then, the value of the benefits is not static and you need to account for other things that people might do with their money.