Just Pricing 4.

Tool-1's price is set to 0.9 x tool-1 cost, - i.e. to less than cost - and all other prices are set to just prices. An approximate equality is achieved, with the idleness of all members bunched together around the mean idleness value.

Although of the 15 members in this system, only 4 make tools of any real value, the rest making cheap low-value tools, all members of the trading system have the same idleness.

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Author: Chris Davis
Last edited: 5 Sep 1998