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RE: The Old Dog Asks: Have You Been Ripped Off Yet Today?

in #ripoff7 years ago

I don't think there is such a thing as rip-off pricing. As you mentioned, supply and demand are at work (economists will tell you demand doesn't affect price, it's quantity demanded). And supplying an airport may involve costs to the seller that are unseen. Bastiat was big on pointing out the unseen costs (and benefits) inherent in all economic transactions. Once I started learning about them, I stopped worrying about those instances when prices seemed higher than normal.

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No doubt the cost in supplying are higher as I pointed out in the article. Perhaps even slightly higher at a highway stop but likely not enough higher to warrant a price 5 times higher on a bottle of water.

I can understand from your article that you've studied the subject! Thanks for chiming in!