Comment on Now we know how much it costs to make a $2,800 Dior bag
bufalo1973@lemmy.ml 2 months agoBut I think it has too go way up. If it goes up but not enough then it’s an expensive thing, not a valuable one.
Comment on Now we know how much it costs to make a $2,800 Dior bag
bufalo1973@lemmy.ml 2 months agoBut I think it has too go way up. If it goes up but not enough then it’s an expensive thing, not a valuable one.
grrgyle@slrpnk.net 2 months ago
I think it works for slightly more expensive things too. Like absent any noticeable difference we would assume that a $5 hotdog was better than a $2 hotdog.
You may be thinking of Veblen goods, which are marked up to such a degree that the high price point is the point of the purchase. It makes the product more exclusive.
bufalo1973@lemmy.ml 2 months ago
But a $5 hotdog is very expensive while a $2 one is just “a normal hotdog in an expensive place”. It’s the jump from the “normal” price. 2x is expensive. 10x is “exclusive”.
grrgyle@slrpnk.net 2 months ago
Yeah you can play with the numbers, and it all depends on the economic context.