How Can You Tell Whether an Item's Price Is a Good Price?

For consumers, prices are notoriously difficult to make sense of when compared to the product's other attributes.

Imagine this scenario. You are out shopping at a farmer’s market on a beautiful spring weekend. As you walk past a stand devoted to healthful ancient grains, you see an eye-catching one-pound package of locally-grown organic amaranth. The package looks expensive. It's made of hand-sewn sackcloth, like something you’d find in a Victorian market. Its pric…