12 ms·
I think the economic perspective is that there is no "base" or "real" price. Each transaction is unique and is legitimate as any other. You can take that set o
by munificent 6y ago
I think the economic perspective is that there is no "base" or "real" price. Each transaction is unique and is legitimate as any other.
You can take that set of transactions and apply any number of narratives:
* The sale price is the base price and that others are gouging is a narrative that you can apply to the set of transactions.
* The full price is the real price and sales are a delightful bonus that you give to people who show that they care more by hunting down the sale.
* The full price is the real price and sales are a charity you give to those less able to afford that price.
* The sale is the real price and the full price is a way of milking the rich who are too foolish or lazy to get a good deal.
Etc.
But the transactions themselves don't provide enough data to determine which of these narratives, if any, is closest to the truth.