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A flood of customers visiting your stall in the hopes of buying an elusive pawpaw may well be more profitable overall than a steady trickle of customers willing
by jdietrich 3y ago
A flood of customers visiting your stall in the hopes of buying an elusive pawpaw may well be more profitable overall than a steady trickle of customers willing to pay the market-clearing price. C.f. the crazed crowds of bargain hunters on Black Friday, or the abundance of artificial scarcity in the premium sneaker and streetwear market.
The sort of pricing and supply irregularities that lead to queues and scalpers and hype are frequently rational for the seller, precisely because of the irrationality of buyers.
- cvalka 3y agoWell said.