i was very tired when i quickly wrote up the last post, so i wanted to add a little clarification. the question is would you want to choose the price you would pay now, for something you will want to buy next year. it is likely, for example, that you would want to buy a pair of shoes in 2009 or 2010. would you be comfortable now agreeing to the amount you will pay for the shoes later? i suppose it's a combined issue of predicting both your value for the item, and the value of the item, in a year or two from now. let's not even say that it's a specific pair. this does not have to do with delayed gratification of seeing shoes (or a bag, or a jacket, etc.) that you want, and having to wait. this is about deciding/committing now to a price or value for stuff you will want in a year or two.
Posted by editor