The simple supply and demand model can be graphed with price on one axis and quantity on the other. There is no time indicator, so how long it will take to reach the point where a transaction is made is not shown. I often feel prices are set on eBay and elsewhere in kind of a “wait for the sucker” mode. It can be annoying to someone who knows the market well enough to make an educated guess as to where the item would end up if it went to auction, but those probably aren’t the buyers the seller is looking for.
|