Fair value, also called fair price (in a commonplace conflation of the two distinct concepts), is a concept used in finance and economics, defined as a rational and unbiased estimate of the potential market price of a good, service, or asset[by whom?], taking into account such objective factors as:
* acquisition/production/distribution costs, replacement costs, or costs of close substitutes
* actual utility at a given level of development of social productive capability
* supply vs. demand
and subjective factors such as
* risk characteristics
* cost of capital
* individually perceived utility [source]
Market price is an economic concept with commonplace familiarity; it is the price that a good or service is offered at, or will fetch, in the marketplace. [source]
The initial offering price Ray Comfort gave was $10,000 which included Richard Dawkins to travel to USA to debate him.
Richard's counter offer was $100,000 denoted to Richard Dawkins Foundation for Reason and Science and be filmed by Josh Timonen for his website.
[No idea whether Ray has accepted the additional condition; ie be filmed and may be distributed. But since Ray gave a counter-counter offer without mentioning that added condition, we can suppose Ray has accepted that part.]
Ray counter-counter offered $20,000 for the debate to occur. Obviously, it is a "no deal" at this point.
Both parties, during this phase of the negotiation would use all kind of tricks to force the opposite to enter into an agreement.
What would the fair price for Richard to debate Ray be?
Is there any other parties interested to see the debate go ahead? If yes, what such party may do?
The following only speaks for myself. I respect the reason why Richard would demand the price he put forward. However, there is lot of entertainment value to see Ray making a fool of himself, I would contribute the price of a movie ticket to the cause, AUD$20 to the Victoria Bush Fire Relief Fund when I see the debate online or on DVD.
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