I think it is important not to mix up value and scarcity. They often coincide, but not always. Water is more valuable to me than whisky, yet I pay fractions of a penny for a litre of tap water, and maybe £30 for a litre of decent whisky.

Say I’d decide reflect the true value water has to me in my WTP. Would that lead to a more optimal supply of water? Is there anything wrong with the supply of water as it is?

Accidental behavioural economist in search of wisdom. Uses insights from (behavioural) economics in organization development. On Twitter as @koenfucius

Accidental behavioural economist in search of wisdom. Uses insights from (behavioural) economics in organization development. On Twitter as @koenfucius