Pricing: What really determines property value in the market?

If you are among the 4.5 million Kenyans who have used public transport in Nairobi, you must have encountered a scenario where the passenger next to you offers the conductor less fare than announced with a smile and no fit is thrown.

Sometimes it is you.

You will see that passenger whispering to the conductor’s ear, a laugh here a soft pat on the back there, before they...