Earlier quoted context omitted.
> There is a surprising phenomenon in microeconomics I was waiting for some counter-intuitive twist, but that seems like common sense and basic math. Not really sure how the concept earned a name.
Paying $1 extra for a better apple is worth it if you value the better flavor by at least that much. It shouldn't matter whether the choice is between $4 and $5 or between $10 and $11 - how did that dollar become less valuable, or the apple tastier? "Humans act like money is proportionate when it's actually linear," is the crux of a wide variety of "surprising" microeconomic facts. People are more likely to drive acr…
Where we differ is that I don't see how you are acknowledging that in only some cases. The degree may change, but not the underlying concept.