In an ideal world, yes. Unfortunately, consumers aren't rational by and large, they don't have access to the information necessary to make informed purchasing decisions, and a sizeable chunk of them would not be able to process that information if it was available. Still, it's the best we've got.
Hmmm, well "value" is a subjective thing to begin with so I'm not sure how rationality would factor into it, but sure, plenty of idiots out there.
Still, it's the best we've got.
True.
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