Yes, but OTOH if I’m about to buy something for $125 it isn’t that unlikely that if I looked more carefully I could found someone else selling the same thing for $120, whereas if I’m about to buy something for $10 it’s somewhat unlikely that anyone else would sell the same thing for $5 (so looking around would most likely be a waste of time), and I’d guess these two effects would more-or-less cancel out.
I can often get a $10 good/service for $5 or less if I’m willing to delay consumption or find another seller (e.g. buying used books, not seeing films as soon as they come out, getting food at a canteen or fast food place instead of a pub or restaurant, using buses instead of trains). I might be atypical.
Yes, but OTOH if I’m about to buy something for $125 it isn’t that unlikely that if I looked more carefully I could found someone else selling the same thing for $120, whereas if I’m about to buy something for $10 it’s somewhat unlikely that anyone else would sell the same thing for $5 (so looking around would most likely be a waste of time), and I’d guess these two effects would more-or-less cancel out.
I can often get a $10 good/service for $5 or less if I’m willing to delay consumption or find another seller (e.g. buying used books, not seeing films as soon as they come out, getting food at a canteen or fast food place instead of a pub or restaurant, using buses instead of trains). I might be atypical.