anchoring effect – The Skeptic’s Dictionary – Skepdic.com

The implication of arbitrary coherence is that it calls into question one of the basic assumptions of a free market and free trade. If we can be manipulated to value things in arbitrary ways, the alleged benefits of a free market are called into question. If values aren’t simply matters of supply and demand evaluated by rational creatures who know what they want and need and how much they are willing to pay for it or charge for it, then it is the manipulators who stand to benefit from free trade.

Source: anchoring effect – The Skeptic’s Dictionary – Skepdic.com

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