"Everything is worth what its purchaser will pay for it."
At the end of the day, we are all consumers. We make a myriad of decisions in every consumption decision. Colin's interest is in what shapes these consumer decisions. Specifically, he is interested in risk aversion, scarcity, and price manipulations and how they interact to make one person buy something that another would not. As Zig Ziglar once said, "People don't buy for logical reasons. They buy for emotional reasons."