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Veblen effect's related stories
One day, in order to inspire his disciples, a Zen master gave him a stone and told him to go to the vegetable market and try to sell it. This stone is big and beautiful. But Master said, "If you don't sell, try to sell. Observe, ask more people, and then tell me directly how much I can sell in the vegetable market. " This man went. In the vegetable market, many people look at the stone and think: it can be a good ornament for our children to play with, and it can also be used as a weight for weighing vegetables. So they bid, but only a few small coins. That man is back. He said, "It can only sell a few coins at most." Master said, "Now go to the gold market and ask the people there. But don't sell, just ask the price. " When he came back from the gold market, his disciples were very happy and said, "These people are great. They are willing to pay 1000 yuan. "

Master said, "Go to the jewelry market now, and don't sell it below 500 thousand." He went to the jewelry store. He can't believe they are willing to pay 50 thousand yuan, but he doesn't want to sell it. They continued to raise prices-they paid 654.38 million yuan. But the disciple said, "I'm not going to sell it at this price." They said, "We will pay 200,000 or 300,000!" The apprentice said, "I still can't sell it at this price." I'm just asking the price. " Although he felt incredible: "These people are crazy!" He thought the price of the vegetable market was enough, but he didn't show up. Finally, he sold the stone for 500,000 pounds.

When he came back, the master said, "But now you understand, it depends on whether you have a touchstone and understanding. If you don't want a higher price, you will never get a higher price. "

In this story, Master wanted to tell his disciples the truth of realizing the value of life, but in the process of selling stones, an economic law was reflected: veblen effect.