This week a huge debate has sprung up over the color of “The Dress.”  The item in question is a two-toned sleeveless dress sold by an English clothing chain called Roman Originals.  Over the last few days many people have had furious debates over whether the dress is gold and white OR black and blue.  Even the Wall Street Journal, a staid conservative publication devoted primarily to business, devoted more than a half-page to the debate over “The Dress’s” color this weekend.  For an economist, however, “The Dress” is really amazing because of its price.

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