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Originally posted by Hauldren Collider
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Americans are gullible noobs: Easiest way to get a bargain is to haggle for stuff after an American group has bought stuff in a shop - the owner's hit the jackpot for the day so he doesn't mind selling stuff for cheap afterwards...
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Americans don't need to haggle, as they're far wealthier on average than Britons.Comment
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And thus our time is more valuable than the money we lose.Comment
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Haggling is also for the lower classes.Comment
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Haggling is one of the most annoying things about traveling abroad. I don't have any data offhand, but I'd be willing to bet that the way prices work in the US is substantially more economically efficient.If there is no sound in space, how come you can hear the lasers?
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Yah, why do we even have bid prices on markets anyways? All we need is that ask price damnit!Comment
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Securities are very different from retail goods...your analogy fails.
Specifically, knowing the actual price of something is valuable information that is hidden when you have to haggle. If my understanding is correct, haggling represents an uncertainty in the value of a product. That has to be less efficient.
The function of markets is largely to determine the value of things. It would make no sense to have a trading market with ask prices.If there is no sound in space, how come you can hear the lasers?
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Please explain how they are different and how that difference violates his analogy.Originally posted by Hauldren Collider View Post
Haggling, generally, allows a seller to price their items at each buyer's willingness to pay. How does that hide the price?Specifically, knowing the actual price of something is valuable information that is hidden when you have to haggle. If my understanding is correct, haggling represents an uncertainty in the value of a product. That has to be less efficient.“As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
"Capitalism ho!"Comment
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Hardly. When I haggle with my local baseball card dealer over how much to pay for the Mike Schmidt 1973 Topps rookie card I am helping to set a market price for other collectors so that they can more accurately determine whether they should open their 1986 Topps packs or wait. If I were to just go in there and pay $750 for it, or whatever ludicrous price they were charging for the mustached god of the diamond cardboard likeness... suddenly every one of those stored 1973 Topps packs in existence would be opened up and the prices for all the other cards would plummet, perhaps sending the whole industry into a recession. They may even end up cancelling baseball, and then what would they show on ESPN for 6 months of the year... women's basketball? WOMENS BASKETBALL?
You really need to re-examine your priorities young man...Comment
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I admit, I enjoyed this postOriginally posted by Aeson View Post
If there is no sound in space, how come you can hear the lasers?
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How much did you enjoy it? Say on a scale of one to 10...Comment
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Fish.If there is no sound in space, how come you can hear the lasers?
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Once again, no substance from HC.
“As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
"Capitalism ho!"Comment
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Are you sure it's just fish? I mean, "mustached god of the diamond cardboard likeness" isn't quite mint, that possessive has been rubbed off and all, but still it's probably worth at least three fish. And that's just one of several in the set. I really couldn't part with it for anything less than that.Comment
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I'll give you a fish and two mexican pesos. But not a centavo more.If there is no sound in space, how come you can hear the lasers?
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