Friday, December 15, 2006

Markets Work (But Apparently Not Everyone Understands Why)

My average commute involves getting on a train to travel about 35 minutes to downtown. The train station I use has a small coffee wagon where I usually get an eye-opener to help me get through the morning paper. For the past week or so, the owner of the coffee wagon has had a display of pins for sale. These pins flash small lights to draw attention. This morning he had his usual display of about a dozen seasonal pins, and one Chicago Bears "C" pin. The season pins were priced at $5, the Bears pin was priced at $10.

One of the customers was quick to point out that there was only one Bears pin, and he wanted to know "why is that one $10?" I said, "probably supply and demand." He acknowledged my comment but I had a sense from the tone and the look on his face that he may not have understood it.

Now, given this probably wouldn't have happened with the same circumstances outside of most of Illinois, but I would think the explanation would have been easy, unless his coffee hadn't kicked in yet.

Not sure this warrants any comments, but as always, they are welcome.

Posted by TSchilling at December 15, 2006 8:41 AM

Interesting to hear, even if there is no comment to be given.

Posted by: Bill at February 7, 2007 8:32 PM

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