Monday, August 16, 2021

Irrational Man

Dr. Boli discovers that the law of supply and demand is not all that fundamental. Internet domains, for instance, are virtually infinite in supply, but prices are unpredictable. I suggest that the seemingly irrational behavior of purchasing one domain for a low price and another domain for a high price might be explicable in terms of Thorstein Veblen's theory of "conspicuous consumption."


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