American Airlines built the practice in the 1980s: the same seat on the same flight sold at many different prices depending on when it was bought, by whom, and under what conditions. It spread to hotels, car rental, cruise lines and events. An entire American industry is built on the proposition that a fixed price leaves money unclaimed.
Kelley Blue Book
The standard American reference for used car values gives several figures for the same vehicle: trade-in value, private party value, dealer retail, certified pre-owned. Not a price. Four prices, depending on who is buying from whom — and each is presented as a range.
MSRP
Manufacturer’s Suggested Retail Price. The word in the middle is suggested, and it appears on window stickers, packaging and price tags across the American economy. The producer states a number and simultaneously concedes it is not binding.
Fair market value
The standard American legal definition, used in tax law and valuation: the price at which property would change hands between a willing buyer and a willing seller, neither under compulsion, both having reasonable knowledge of the relevant facts. The definition contains no reference to cost. Value is defined as the outcome of a hypothetical negotiation between two informed parties.
virtue and effort
The Protestant work ethic, brought to America by early Puritans and other settlers, reinforced the idea that hard work and economic success are signs of divine favor. This theological perspective aligns closely with capitalist ideals, suggesting that market success is a reflection of personal virtue and effort. Consequently, prices determined by the market are perceived as just rewards for one’s labor and entrepreneurial skill, rather than as fixed, objective values.