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The human mind has a number of faults hard-wired into it like optical illusions or the illogical notion that it is unfair if your mom gives extra toys to your b
by cjensen 14y ago
The human mind has a number of faults hard-wired into it like optical illusions or the illogical notion that it is unfair if your mom gives extra toys to your brother and not you.
Lesson for entrepreneurs everywhere: your brain is lying when it says price should be a function solely of production cost. Supply and Demand is the Law!
- HarryHirsch 14y ago> your brain is lying when it says price should be a function solely of production cost. Supply and Demand is the Law! One must not forget other factors, notably entry barriers into the market. In theory at least, no one should be able to make any profit selling anything at market because someone will always be selling a little cheaper. In practice - just look at the cost of broadband internet!