In finance and economics, the greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by the local and relative demand of a specific consumer.
In an inflated market, a consumer, despite having broader market knowledge might pay an inflated price because of their needs and the local related-market value. Another consumer, relative to their needs and assessment of market value, may deem the price excessive. Thus, to one consumer, the commodity has a greater value than to another, making the former look like a fool to the latter.
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The Daily Omnivore 