price - Economics Students Society of Australia

price

A collection of 3 posts

Portrait of a paradox

Portrait of a paradox

On a recent trip to New York, a friend and I sought refuge from a bitter January snowstorm inside the white walls and clean lines of the Museum of Modern Art, nestled between Fifth and Sixth avenues in Midtown Manhattan. All five main floors were filled by people with the

The Pricing Straightjacket

This week, I found myself pondering the future of $2 shops. While $2 shops are often associated with tacky, low-quality goods, they are also essential when the need arises for gift bags, wrapping paper and P-plates (am I correct?). $2 shops are an example of a price-point retailer, where all

Scavenging for rationality at the Camberwell Sunday Market

Scavenging for rationality at the Camberwell Sunday Market

In economics, we are often presented with the benchmark of a perfectly competitive market, in which a large number of buyers and sellers trade homogenous products with perfect knowledge regarding price and utility. The only feature Camberwell Sunday Market shares with this benchmark is a large number of buyers and