{"id":2895,"date":"2022-04-04T12:27:52","date_gmt":"2022-04-04T11:27:52","guid":{"rendered":"https:\/\/sites.manchester.ac.uk\/mancept\/?page_id=2895"},"modified":"2022-08-19T10:29:40","modified_gmt":"2022-08-19T09:29:40","slug":"just-price-theory-a-reassessment","status":"publish","type":"page","link":"https:\/\/sites.manchester.ac.uk\/mancept\/mancept-workshops\/programme-2022-panels\/just-price-theory-a-reassessment\/","title":{"rendered":"Just Price Theory: A Reassessment"},"content":{"rendered":"

[et_pb_section bb_built=”1″ admin_label=”section” fullwidth=”on” _builder_version=”3.0.47″ next_background_color=”#000000″ global_module=”322″][et_pb_fullwidth_menu global_parent=”322″ menu_id=”8″ submenu_direction=”downwards” fullwidth_menu=”off” module_class=”main-navigation” _builder_version=”3.17.6″ background_layout=”dark” \/][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”header-image-section” _builder_version=”3.0.74″ custom_padding=”0px||0px|” custom_css_main_element=”padding-top:0px” transparent_background=”off” prev_background_color=”#000000″ next_background_color=”#000000″][et_pb_row custom_padding=”||0px|” custom_margin=”||0px|” parallax_method_1=”off” module_class=”header-image” _builder_version=”3.0.47″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″][et_pb_image src=”https:\/\/sites.manchester.ac.uk\/mancept\/wp-content\/uploads\/sites\/257\/2022\/02\/Oxford-Roadcrop.jpg” show_bottom_space=”off” _builder_version=”3.17.6″ border_color_all=”#ffffff” custom_margin=”0px|||” animation_direction=”left” use_border_color=”off” \/][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ _builder_version=”3.0.74″ custom_padding=”||0px|” transparent_background=”off” prev_background_color=”#000000″ next_background_color=”#1d1d1d”][et_pb_row custom_padding=”||0px|” custom_margin=”||0px|” parallax_method_1=”off” module_class=”breadcrumbs-row” _builder_version=”3.0.47″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″][et_pb_text admin_label=”Breadcrumbs (do not remove)” module_class=”breadcrumbs” _builder_version=”3.17.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” module_alignment=”left” custom_css_main_element=”border-bottom: 1px solid #ececed;” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]<\/p>\nMANCEPT<\/a><\/span><\/span>\n

[\/et_pb_text][et_pb_text _builder_version=”3.17.6″]<\/p>\n

Just Price Theory: A Reassessment<\/h1>\n

Joaquin Alonso Reyes Barros\u00a0<\/strong>(Universidad Finis Terrae, Chile \/ Yale University)\u00a0<\/strong>and Matias Petersen <\/strong>(Universidad de los Andes, Chile)\u00a0<\/strong><\/p>\n

University Place 6.213<\/em><\/p>\n

In our experience as market agents, we encounter many situations in which the\u00a0price\u00a0of a certain good seems intuitively wrong, either because it is exorbitant, a \u2018rip off\u2019, \u2018too much\u2019, or, at the other extreme, because it is \u2018a bargain\u2019 or \u2018too little\u2019. Whether it is a professional extracting enormous profits for a job he would be willing to do for less, a seller charging more for a good because she knows how intensely the buyer wants it, a buyer taking advantage of the ignorance of the seller to buy cheap a costly item, it seems to be the case that the\u00a0price\u00a0paid for some goods does not match the\u00a0price\u00a0they\u00a0ought<\/em>\u00a0to possess, i.e., their\u00a0just\u00a0price.<\/p>\n

These moral intuitions have\u00a0their legal counterpart in the form of institutions, rules, and practices dealing with unequal exchange. Civil law remedies against\u00a0laesio enormis<\/em>,\u00a0\u00a0price\u00a0unconscionability in the Common Law, prohibitions on\u00a0price\u00a0gouging, among others, are examples of institutions shaped by a concern for the fact that certain goods are being sold for more or less than they ought to be.<\/p>\n

The aim of this workshop is to explore the analytical and normative implications of the concept of the\u00a0just\u00a0price. Potential topics include, but are not limited to, the following:<\/p>\n