When is something overpriced? 36 examples

Oct 28, 2011 · 3 minute read · Comments
economicspsychology

Very often I hear people complaining that “X is overpriced”. I always listen carefully to try to figure out what they mean, because I’ve learned that the word “overpriced” can mean many things. I find that I learn a lot about people from how they use that word.

Here are 36 things people might mean when they say something is “overpriced”.

“Gas for my car is overpriced”

• The evil oil companies are colluding and price-fixing and don’t deserve to keep all their huge profits.
• I am paying much more now for than I used to. Anything higher than I am used to is overpriced.
• Cheap driving is an American entitlement, and we need to do something in the Middle East.
• The un-American liberals won’t let us drill, baby, drill!

“College is overpriced”

• My parents had to work extra jobs to pay for my education.
• I didn’t get the kind of job I thought I was guaranteed when taking out student loans.
• Those lazy liberal professors are getting paid way too much for doing nothing useful for society.
• I hate the whole stupid college sports system in America.
• The ease of getting federal student loans drives up college enrollment demand and therefore drives up college tuition as well.
• Those evil conservatives have turned education into a cold for-profit business enterprise.

“Symphony tickets are overpriced”

• I don’t like classical music and would rather be going to a musical.
• I’d rather just download music at home.
• The tickets are not overpriced, but the parking should be easy and free.
• People who go to the symphony are privileged and wealthy and think they are better than me.

“Textbooks are overpriced”

• I could pay less for textbooks if the publishers didn’t keep on churning out new editions every year and the professor made us get the new editions.
• The textbook industry is a parasite, and the authors are not getting their fair sure of the profits.
• Information should be free.
• I’d rather buy e-books for less than pay for dead tree books.

“Macintosh computers are overpriced”

• I hate Steve Jobs.
• I hate those artsy liberals who love Macintosh computers.
• Computers manufactured from comparable materials should have similar costs.
• When I pay more, I should have more applications to choose from, not fewer.
• Apple takes away my freedom to tinker and charges me for taking away my freedom?

“Fresh vegetables are overpriced”

• Why would I buy vegetables when I can buy a tasty Big Mac for less?
• All food should be cheap.
• I don’t like to eat vegetables.
• The government artificially makes a lot of unhealthy, processed food cheaper than fresh vegetables because of lobbyists who get their subsidies to the industry.

“Homes are overpriced”

• I can’t buy the home that I deserve.
• I won’t settle for a smaller home.
• I only want to live in a “good” neighborhood.
• Speculators and lax lending policies have created a housing bubble.
• End the Fed!

“That big TV is overpriced”

• I’m jealous that you have a TV I can’t buy.
• TV is stupid.
• If you just wait a while, you can pay less for the same TV in a couple of months.
• The price of the TV does not scale linearly with the size.