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The Price of Fish: A New Approach to Wicked Economics and Better Decisions by Ian Harris, Michael Mainelli

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10 IT’S A MAD, BAD, WONDERFUL WORLD:COMMERCIAL DIVERSITY

Some goods and services seem to be ridiculously overpriced, just as some people seem to be ludicrously overpaid. But are we simply failing to recognize true value when we make such an assertion? With commerce varying so much between cultures and over time, can we really know what does and does not represent value? Perhaps the market is the best place to establish value; or could those wicked prices and monster pay packets simply reflect skewed markets due to fads and fashions, or flawed exchange of information between sellers and buyers, or even cheating? In order to explore these questions of real commerce, we consider diverse subjects such as information asymmetry, money, positional goods, ...

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