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DailyDirt: Pricing Ain't Easy

from the urls-we-dig-up dept

Sometimes the prices of products are mysterious -- or just don't make much sense. Why is gasoline sold per gallon to nine-tenths of a cent? How can rare artwork really be worth millions of dollars? Sometimes, pricing puzzles can stump economists, but more often than not, there's a well-known economic explanation that's just not very intuitive. The invisible hand works in strange ways, and here are a few examples. If you'd like to read more awesome and interesting stuff, check out this unrelated (but not entirely random!) Techdirt post.

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  • identicon
    Anonymous Coward, 27 Jun 2012 @ 5:33pm

    no more ellen degeneres?

    JCP is trying to go upscale and ditch all of its Walmart/Target/bargain-loving customers by making its prices "fair&square". Good luck with that.

    reply to this | link to this | view in chronology ]

  • This comment has been flagged by the community. Click here to show it
    identicon
    Anonymous Coward, 27 Jun 2012 @ 6:45pm

    how about stop with these useless articles, trying to drive clicks to others for some type of revenue

    reply to this | link to this | view in chronology ]

  • identicon
    Anonymous Coward, 28 Jun 2012 @ 11:50am

    Gasoline Pricing

    Way back when, 100yrs ago gasoline was so cheap that pricing it at $0.06 or $0.07 was not deemed appropriate. So the powers that be (gas companies) came up with the 9/10 scheme as a way to encourage everyone to pay more for what they were getting or were getting raped for. Everyone knew it was 6.9 cents but that's less then 7 cents per gallon.

    reply to this | link to this | view in chronology ]


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