That’s exactly what doesn’t make sense; asking the same people whether they’d walk across the street to save money on X should depend on how much they value their time, not on how much they value X. It isn’t rational for there to be states of mind where buying more expensive things makes people value their time more when the rest of the environment is identical.
That’s exactly what doesn’t make sense; asking the same people whether they’d walk across the street to save money on X should depend on how much they value their time, not on how much they value X. It isn’t rational for there to be states of mind where buying more expensive things makes people value their time more when the rest of the environment is identical.