What is "fair"?

[nofearfactor]

Im just holding my cards and keeping what I have to myself and not buying anything but maybe some extra ammo when I see it priced normal. Just gonna ride it out watching the craziness go by me like the last one. I'm already in too deep buying/selling in the coin-op gaming, collectibles, muscle cars/4x4s, guitars, guitar amps and sound gear markets.

 

[Werewolf]

If a buyer and a seller mutually agree on a price and money exchanges hands its fair.

If the price is too high don't pay it.

On the other hand:

How many of you who are ranting about gouging have ever told a seller that their price is just too low - and offer them more? Hmmmmm? How many?

 

[Cinaet]

What is "fair" when it comes to pricing things for sale?

Ask 5 different peops and you'll probably get 5 different answers. Think it through and decide for yourself. Hang around for a week or so and this board might become your new e-home. Let us know what you decide is fair.

 

[kd5rjz]

So, if gas went to $50 a gallon overnight, would that be price gouging or free market?

If oil was at $1100+/bbl I would be buying a ton of gas, for my new Veyron.

Once again, this is Oklahoma... and a lot of us think ahead...

 

[JB Books]

If oil was at $1100+/bbl I would be buying a ton of gas, for my new Veyron.

Once again, this is Oklahoma... and a lot of us think ahead...

OT but how many gallons of gas can you getb out of a barrel of oil?

 

[WTJ]

I look at like this: They are just FRNs and, as such, are essentially worthless. The changes in the price of gold should give a good indication of that. Of course, you could wait until the Regressives finish turning the US into the Weimar Republic.

On second thought, it has already happened.

 

[okiebryan]

I look at like this: They are just FRNs and, as such, are essentially worthless. The changes in the price of gold should give a good indication of that. Of course, you could wait until the Regressives finish turning the US into the Weimar Republic.

On second thought, it has already happened.

So long as you can trade FRNs for something of value that you want (guns, ammo, food, fuel), then FRNs aren't worthless, are they?

 

[Neanderthal]

Depends on if you're the buyer or seller. If you're the seller, then no. If you're in the market as a buyer, then the seller is a nogoodfernuttingouginsumbooger!

 

[WTJ]

So long as you can trade FRNs for something of value that you want (guns, ammo, food, fuel), then FRNs aren't worthless, are they?

Sure. Trade 6000 of them for a 750 dollar rifle.

 

[HMFIC]

Interesting read...

http://www.people.hbs.edu/jrotemberg/workcurr/fairpri6b.pdf

Pages 21 and 29 are especially pertinent. There seems to be good science behind the concept that anger over lack of expectation causes more people to feel as though an increase is "unfair".

The perception that prices are unfair sometimes elicits strong consumer reactions. Con-
sumers have, on occasion, challenged price discrimination, denounced price increases, and
objected to price reductions. This paper has sought to provide a theory that explains how
such distinct pricing patterns can be viewed as unfair. The aim of this theory is to predict
when consumers will be angered by prices.