You may also want to consider the paradox of value (diamond-water paradox) posited by Adam Smith, and drawing a parallel to baseball cards therein, as one small segment.
Much like diamonds, baseball cards are not even remotely as useful as water. However, again much like diamonds, a single baseball card can command a price that exceeds thousands of gallons of water.
Solely within the framework of the American economy, I believe that the concept of diminishing marginal utility can be applied to water...and, within the hobby, collectors tend to chase cardboard "gems" with the same mindset that others may consider when purchasing jewelry.
Just a thought...hope it helps.
Best Regards,
Eric
Last edited by Eric72; 09-17-2013 at 08:48 PM.
Reason: grammar
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