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So think about pure consumption goods over here.
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And even in these pure consumption goods
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I mustn't get any psychological value out of thinking
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I managed to get that cake and you didn't.
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So the private value case is really an extreme thing,
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but it turns out to be a useful abstraction
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when we come to consider things further.
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Now, where have my jars got to?
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So I've got certainly two rows I can play with here.
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Let's talk about this auction for the jars.
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So what we're going to do is we're going to have people bid
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for the value in the jar.