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by munificent
2353 days ago
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> because the customer accepts the lower quality. This presumes a perfect market where customers are rational actors with access to a variety of sellers whose product differs only on quality, which consumers have access to accurate information about and the time and expertise to precisely evaluate. Of course the reality is we're just trying to book a flight to get home before Mom's chemo starts and all we know about each airline is the ticket price and how good the peanuts were the last time we flew on them. Airlines are about the last industry on Earth where we should expect laissez-faire capitalism to produce optimal outcomes. |
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