Price Discovery, from Alston Mabry
Econ 101: price discovery has a cost.
Sam Cohen's business works like this: He walks into a big retail store and buys a bunch of stuff. Then he sells it on Amazon for more.
This is a multimillion-dollar business for Sam — and for lots of other people who do the same thing.
How is this even a job, much less an industry?
anonymous writes:
Pricegrabber and other broad product aggregators make price comparisons a near effortless task.
Comments
Jim on July 6, 2015 3:48 pm
Amazon remains king in spite of not having the lowest prices, because of availability and convenience. The analogue to financial markets would be, of course, liquidity. This guy’s a classic market maker.