Well...
I don’t think it’s fair to try and do an equivalency. Like different priced pipes, it comes down to what you like and if you want to pay the cost for it.
If you like capstan, it’s price is the price of admission to enjoy capstan. If I feel like a bowl of capstan, a bowl of union square isn’t going to satisfy that.
Absolutely this is true. And that's why I have a stack of Capstan in my cupboard. But I think that it happens a lot where we rationally
know that one is more expensive than the other, yet we just buy a tin or two here or there and it doesn't
feel all that more expensive, especially when we're enjoying it. But if you're getting a full pound of it, you notice the difference - and if anyone is planning to sock away 10lbs of Virginia in their cellar, there's a hell of a difference between $400 and $1,500 that most of us certainly
would feel. I know
I would.
When a small priced item is 4x more than some other small priced item, it can be over looked just on preferences (I feel privileged that I can get the "good" milk and not simply the cheapest milk) but if we exaggerate and think instead of a $25,000 car vs. a $100,000 car, we certainly expect something for our money that accounts for the difference in cost. Obviously tobacco is a lot more like the milk than it is the car, but again, I just find the psychology of economics interesting.