Fair price
The fair price also called right value is a theoretical and virtual notion nearer of the value (= estimate) that Prix (= of market). It was advanced by Thomas d' Aquin in his Summa Theologica .
The fair price would be, according to the approaches:
- the potential price estimated starting from elements considered objective (cost, utility, scarcity, etc),
- a substitute of the contract price when there does not exist Marché organized giving a reliable reference on the equilibrium price between supply and;
- the desirable price according to appreciations considered ethical;
- a meaningless word.
For the financial credits, concerning the relation between the fair price and the price contract, there are two approaches:
- the assumption of Efficiency of the market which considers that both agree;
- and the behavioral Finance which notes variations being able to be important and durable between the two.
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