People just don’t know what they need

September 25th, 2013 § 0 comments


We talked earlier about how the Jakarta Governor thought that cheap cars weren’t what the people need. Here’s a news report about how Honda is overwhelmed by record orders for their low-cost models, the Brio Satya, Brio 1.2 liter and the Mobilio, within less than a month after they were launch at the 2013 Indonesia International Motor Show.

Does this mean that the people who buy the cars don’t know that they don’t need those cars? There’s something about demonstrated preference that makes it a more reliable indicator of people’s preference than what a bureaucrat says.

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