The incredible Steve2 duo (Levitt and Dubner) of Freakonomics fame may be on to something big.
Stop. Let’s forget the little economist in all of us here. While price may have objective criteria and parameters, value is strictly personal. Price does not necessarily reflect value while value may not always be decoded into pricing terms.
I personally find it fascinating but I am wondering… How do you overcome human nature? If conscience was the only counselor to your behavior, what would you do if you could buy something by paying only what you felt was fair? What criteria would you use, and how would you put a price on something solely on the value you felt you received by the tangible product or the more intangible service?
And something else: How about all these things that have so much value yet nobody has stuck a price tag on – things such as peace and quiet, reassurance, smiles or a crisp, clear gloriously sunny Sunday afternoon? What are such things worth to you?
Besides, what if someone has put so much effort in getting you to that peaceful stage? Would you feel inclined to pay them for what they have helped you achieve? And how is that different from paying yourself -actually acknowledging your value – for planning out what you really want to do, be, get and going through the pain of making it happen – not for anyone else other than yourself? What would you be worth to you?