Comments on: This blog for $1,693.62 … going once, going twice … http://fugato.net/2005/11/09/this-blog-for-1thousand693dollars62cents-going-once-going-twice/ Gunnlaugur Þór Briem Sun, 30 May 2010 18:46:11 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: GÞB http://fugato.net/2005/11/09/this-blog-for-1thousand693dollars62cents-going-once-going-twice/comment-page-1/#comment-1750 GÞB Wed, 09 Nov 2005 10:14:27 +0000 http://fugato.net/?p=169#comment-1750 Hjalti: "what someone is willing to pay" does not, in my mind, mean whatever <em>the last guy</em> offered. It means "the maximum value, over all potential buyers, of the price each buyer is willing to pay" ... which is the same definition you supplied, isn't it? My phrasing of the definition emphasizes the point that a given value estimate is substantiated <em>only</em> when you can find <em>someone</em> willing to buy at that price. Gummi: how subtle of you! But I got your point ... very well, I've linked to your blog now, to share some of my voluminous Google juice. No need to be shy about asking. :) Hjalti: “what someone is willing to pay” does not, in my mind, mean whatever the last guy offered. It means “the maximum value, over all potential buyers, of the price each buyer is willing to pay” … which is the same definition you supplied, isn’t it? My phrasing of the definition emphasizes the point that a given value estimate is substantiated only when you can find someone willing to buy at that price.

Gummi: how subtle of you! But I got your point … very well, I’ve linked to your blog now, to share some of my voluminous Google juice. No need to be shy about asking. :)

]]> By: Gummi http://fugato.net/2005/11/09/this-blog-for-1thousand693dollars62cents-going-once-going-twice/comment-page-1/#comment-1749 Gummi Wed, 09 Nov 2005 09:03:34 +0000 http://fugato.net/?p=169#comment-1749 This blog price evaluator is obviously crap, http://limescooter.blogspot.com is worth nada, zip, zzzero (said with my daughter's really strong Californian accent), but that can't be! :-) This blog price evaluator is obviously crap, http://limescooter.blogspot.com is worth nada, zip, zzzero (said with my daughter’s really strong Californian accent), but that can’t be! :-)

]]> By: Hjalti http://fugato.net/2005/11/09/this-blog-for-1thousand693dollars62cents-going-once-going-twice/comment-page-1/#comment-1748 Hjalti Wed, 09 Nov 2005 03:04:03 +0000 http://fugato.net/?p=169#comment-1748 Of course I have to disagree. Not because I think I'm right (far from it)... but merely because I like disagreeing :) According to economic theories of supply of demand, a price is determined when a seller and buyer meet and agree to exchange goods and money. From that inadequate definition, we can then define "worth of a good" to be the highest price available if exchange were to take place. The worth of Mona Lisa is the maximum price possible, not what "someone" is willing to pay. This of course opens up a can of worms for goods that do not deplete with each sale e.g. software. Is the worth of software the highest price available for a single copy, or is it the total revenue possible? Or is it the combined suppliers and buyers surplus? yes - I have no life. ps. My blog is coincidently worth exactly the same, perhaps a coincidence - or did the blog evaluator over-value our blogs since more than one blog is stored on the same IP address? Of course I have to disagree. Not because I think I’m right (far from it)… but merely because I like disagreeing :)

According to economic theories of supply of demand, a price is determined when a seller and buyer meet and agree to exchange goods and money. From that inadequate definition, we can then define “worth of a good” to be the highest price available if exchange were to take place. The worth of Mona Lisa is the maximum price possible, not what “someone” is willing to pay.

This of course opens up a can of worms for goods that do not deplete with each sale e.g. software. Is the worth of software the highest price available for a single copy, or is it the total revenue possible? Or is it the combined suppliers and buyers surplus?

yes – I have no life.

ps. My blog is coincidently worth exactly the same, perhaps a coincidence – or did the blog evaluator over-value our blogs since more than one blog is stored on the same IP address?

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