There seem to be almost as many fallacies about prices as there are prices. For example, it is common to hear that the same thing is sold at very different prices by different sellers. While this can happen, usually this involves defining things as being "the same" when they are not. Other fallacies include the notion that "greedy" sellers are responsible for rising prices or that "predatory" businesses destroy competition by selling below cost and bankrupting their rivals, so that they can then raise prices to monopolistic levels afterward. While these are only a small sample, looking at them closely may illustrate how easy it is to create a plausible-sounding fallacy and get it accepted by many otherwise intelligent people, who simply do not bother to scrutinize the logic or the evidence.
Physically identical things are often sold for different prices, usually because of accompanying conditions that are quite different. As noted in Chapter 6, two airline passengers sitting side by side in the same plane may have paid very different fares because one bought a guaranteed reservation, while the other was a standby who got on board when there happened to be space available. What they really bought were two very different probabilities of getting on board that plane. Only in retrospect did they end up with the same thing -- but people do not act in retrospect. As of the time they acted, they bought very different