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To: Bill Harmond who wrote (100360)	4/13/2000 10:29:00 AM
From: GST	Read Replies (2) \| Respond to of 164684

William: Positional actually means that we want it largely because it represents something others can't have if we have it. For example, going to Harvard is positional. The value is derived from the fact that not everybody can go to Harvard. If everybody could go, it would no longer be valuable as a positional good. The price of positional goods can go very, very high as people compete to occupy the position. If the position can be expanded, or if demand for the position falls (or both), then the price can collapse and never come back up.