Monday, November 12, 2012

Would you buy a $200 iPad?

Good morning economists! Of course you would buy it in a heartbeat. If you were buying a real iPad that is...A woman in Arlington, Texas, was approached in the parking lot of a gas station (!!!) by someone who offered her a deal on a brand new iPad. $200 instead of the $800 that it was retailing in the store. The woman was quick to accept the deal. When her sister opened the package, she discovered that she was actually sold a mirror dressed up as an iPad!
You know what they say, if the offer is too good to be true then it is usually not true at all!

The question that arises however, is why would anyone buy an $800 iPad for only $200? I mean, it does sound suspicious and the offer should make the scam alert go off. Of course the risk of being scammed is always there. However crooks need to decide on the price that they are selling the item, and this is no easy task!  The price needs to tempt the buyer into purchasing the item and at the same time it must not be too low so as to arise suspicion.

"Some of (the victims) think they’re getting a good deal on an iPad and it kind of blocks their sensory perception of right and wrong,” a Grand Prairie detective said and he is absolutely right. Apparently, the woman in our story above was blinded by the $600 savings on an iPad. Does she have the right to be upset at the crook who sold her the fake iPad or should she be upset with herself for her false judgement?

How much is your sensory perception of right and wrong worth?

Have a nice day!


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