willie_901
Veteran
How buyers act is rational by definition as long as the number of buyers is a large enough sample. Buyer always act in what they perceive to be their best interest.
Roger Hicks
Veteran
What people perceive to be in their best interest is not always rational. Look at the recent US election results. First, massive proportions of those who bothered to vote could see no rational reason for voting for the other candidate. Were both sides rational? Second, how many voted the way they did because "I've always voted ________, and that's easier than thinking about what's best or me or for the country"?
Then there's plain hysteria. Are you really telling me that the Dutch tulip bubble was rational? See Memoirs of Extraordinary Popular Delusions and the Madness of Crowds. You can even download it for free from http://www.gutenberg.org/ebooks/24518
Like most economic definitions, the concept of the rational purchaser does not survive even the briefest inspection or criticism.
Cheers,
R.
willie_901
Veteran
What buyers perceive to be their best interest at the time they buy may certainly seem irrational to others.
Of course, in hindsight, with all the information in hand, buyers' actions can be described as irrational. But at the time of the transaction, only irresponsible, reckless, intoxicated or mentally impaired buyers do not act (buy) in what they perceive to be their best interest. Even high-risk purchases, speculative investments for instance, are made after the buyer decides the risk is worthwhile.
Of course, in hindsight, with all the information in hand, buyers' actions can be described as irrational. But at the time of the transaction, only irresponsible, reckless, intoxicated or mentally impaired buyers do not act (buy) in what they perceive to be their best interest. Even high-risk purchases, speculative investments for instance, are made after the buyer decides the risk is worthwhile.
Roger Hicks
Veteran
That's pretty much what I was suggesting.Along with the certainty that many can be described this way.
Cheers,
R.
denizg7
Well-known
but isint the m7 and an mp same price new
cam
the need for speed
i knew this would happen the second the ME was announced
it scuttled plans to sell my M9 to fund the Monochrom... i'll keep it now for colour.
thegman
Veteran
Well, I guess chances are it won't need repair at all, but it's a psychological difference for me, that percentage of the sale price saving is not worth buying used for me.
EdwardKaraa
Well-known
I think it's a real possibility, especially with earlier batches, cracked sensors, banding, white horizontal lines...etc. I actually benefited the most from the ME: I bought a brand new M9 with warranty from the official Leica dealer cheaper than what the ME will sell locally(it's not available yet).