AIM Framework glossary
I-Adequate Price
Canonical definition
The I-Adequate Price is the component of an Object's total price equal to the additional cost, over the A-Functional Price, of quality sufficient to support genuine process-engagement. The I-Adequate Price is the second of the three components into which Price Decomposition separates any Object's total price, and the I-Adequate Price and the A-Functional Price are the two prices the Mimetic Premium parasitises at the economic level under Object Parasitism.
Explanation
The I-Adequate Price is what is paid for an Object to be good enough for the activity it serves. For a house the I-Adequate Price is what is paid above shelter for design, a garden or a workspace good enough to support the occupants' own pursuits. Paying beyond that adequacy for size or an address that signals position is paying the Mimetic Premium.
Epistemic status
Framework-Specific Construct.
Derivation
Also in the entry
Distinction from Price Decomposition. Price Decomposition is the analytical separation of a total price into its three components; the I-Adequate Price is one of those components and not the separation.
Related terms
- Price Decomposition
- A-Functional Price
- Mimetic Premium (PM)
- Object Parasitism
- Intrinsic Motivation (I)