Price as a Signal of Quality

9 December 2006 at 3:11 pm Nicolai Foss 3 comments

| Nicolai Foss |

Here is the evidence.

Update I: I have a few copies left of this book. I am offering it at the competitive price of 195 Pounds. First come, first served.

Update II: Here is another ridiculously under-priced offer.

Update III: In a more serious vein, what is the economics behind these prices? Not even a hardcore Foss sycophant would pay almost 200 quid for my 1994 collection of essays. Are they phishing for that Japanese university library that just must have a complete collection of books on Austrian economics (cf. Joe Mahoney’s comment)?

Entry filed under: - Foss -, Ephemera.

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3 Comments Add your own

1. Joe Mahoney | 9 December 2006 at 5:00 pm

This reminds me of the story of the man on the corner selling a commonplace pencil for $1,000. The man is informed that he will not sell many pencils at that price. The man smiles and replies: I just have to sell ONE !

But all seriousness aside, very impressive signal Nicolai !

As a footnote they also say advertising is a signal of quality. However, the constant advertising in the United States of Jack Black’s new movie “Tenacious D: In the Pick of Destiny” leads one to pause and wonder.
2. Peter Klein | 9 December 2006 at 6:17 pm

I thought Nicolai would use this example as the lead-in to a blog entry on disequilibrium prices. :-)
3. Nicolai Foss | 10 December 2006 at 6:07 am

Very good point, Peter! As the book is so ridiculuously under-priced, there would seem to be a pure Kirznerian profit opportunity here!!