It's the Language of Action, Not a Trick - Predrag Rajsic - Mises Institute

It's the Language of Action, Not a Trick - Predrag Rajsic - Mises Institute: "In our everyday life, money is generally seen as the good that is being given up in return for consumption goods and services. Actually, what is being given up is the alternative use of that money.

When deciding on a purchase, a person assesses the value of an item and compares it with the values of other things that could be obtained using the money needed to make that purchase."

"Offering two pairs of shoes for $150 would create an artificial unit for mental analysis. For most people, the appropriate unit of shoes is one pair. People rarely have a single immediate end that would be satisfied by purchasing two pairs of shoes. Thus, when offered two pairs up front, people first need to disaggregate the offered two-pair unit into one-pair units and align them with different ends on their value scales, together with different combinations of money prices that add up to $150."