This reminds me of when I was a kid during the mid 70s gasoline crisis. My dad owned a pharmacy and needed gas for prescription deliveries every day. Gasoline was rationed. You had to wait for your day based on your plate number.Theree was one gas station in the area selling gas at triple the pre crisis price. My job was to keep the delivery cars filled. My father said get the gas, whatever the price. Everyone thought he was an idiot for paying the "price gouger." He said what do I care what they think? We're making money.
nice story -- yeah, we hinge our price estimates at some mental level "OMG gas is $x/gallon" instead of comparing it to a) other prices changing, and b) more importantly for his case, he's making enough/more money at the other end delivering his service
reply