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How can it be objective when every single individual would bid a different price for the same product, if asked without being shown the market price beforehand?
by pietrovismara 6y ago
How can it be objective when every single individual would bid a different price for the same product, if asked without being shown the market price beforehand? It's all about perception and -my friend, I have bad news for you- perception is all but objective. Yes, perception of value can be manipulated through tools like marketing. That doesn't make the product itself anymore (or less) valuable than it actually is.
- scarface74 6y agoThat’s the issue. Anyone could respond that they have an app that valuable to only them and their best friend. What better choice do we have than to measure value across a population? How much value a population places on something based on how much they are willing to pay is objective. Whether that value is utilitarian or based on other factors is subjective. Are we really arguing about basic supply and demand? Yes suppliers have methods to drive demand.