Most people play games these days and talk about things being overpriced. I like to use this as a way of explaining value.
Why is the product overpriced? What measure is the person using when looking at a skin you can buy in a videogame to assess its value?
They know people will pay this price, and that it’s being priced at the maximum amount efficient for highest profit. But what makes them FEEL that it is overpriced?
Because the price is considerably higher than its value. The method of feeling out the value that human beings use is based on how much labour they think went into the product, proportional to the size of the audience that it is being sold to of course.
I like to use this internal feeling of value to get people to realise that they’re using this theory themselves internally without realising it.
Most people play games these days and talk about things being overpriced. I like to use this as a way of explaining value.
Why is the product overpriced? What measure is the person using when looking at a skin you can buy in a videogame to assess its value?
They know people will pay this price, and that it’s being priced at the maximum amount efficient for highest profit. But what makes them FEEL that it is overpriced?
Because the price is considerably higher than its value. The method of feeling out the value that human beings use is based on how much labour they think went into the product, proportional to the size of the audience that it is being sold to of course.
I like to use this internal feeling of value to get people to realise that they’re using this theory themselves internally without realising it.