A Fair Price?

A recent video from reason.tv noted the word fair in English has few direct translations in other languages. This was fascinating to me being a lover of etymologies, but it also got me to thinking about the expression fair price.

Take a look at the video and please comment on your thoughts about what is a fair price to you?

4 thoughts on “A Fair Price?

  1. Oh what a can of worms……”the government shouldn’t be involved becasue they don’t know what’s fair”….but they do know what buys votes!

    Thanks for introducing me to this website.

  2. Very interesting…. and very supportive, I think, of value pricing. I am now wondering if there is such an animal as an ‘experimental consultant’

  3. Fairness is subjective. We have problems defining it but we know when something seems fair to us. That is not to say that there are not activities that a majority of people would consider to be unfair.
    I believe hourly billing to be unfair. Here is an example where a client thought so, too.
    A small program modification was performed for a client by a 3d party programmer and a couple of hours were billed. The modification did not work. After multiple calls, a conference call and more programming work the modification was finally working properly. The programmer billed not only for the additonal programming time but the time spend talking about the problem.
    Although this was a relatively small dollar amount – under $700 for the total of the billings, the client felt it was unfair.
    If this was done as a fixed price project (easily billed out at $1000), the client would have thought the price as fair as long as when the problem with functionality was dealt with promptly.

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