Poker Theory and Snow Blowers

This week I came across a real life application of what poker players would call a "value bet."

A value bet is a bet that make when you're quite certain that you have the winning hand, but you still want to get some money from your opponents. If you bet too high, they will likely fold. If you bet too low, you're missing out on an opportunity to capitalize on a winning hand. So, you try to figure out the highest bet amount that your opponent would call.

So back to my real life application of the value bet. Our snow blower broke this weekend when I ran over a chunk of ice that was too big for it. This snow blower is over 20 years old, but still runs like a champ. I dropped it off at the local outdoor equipment repair shop. They said they'd get back to me with a quote. I agreed.

Later in the week, I get a call from the shop. They say that it will cost $125 to replace the plastic plate. They say "it would cost more to take the piece off the 'carcass' they have in back." I tell them I'll call them back.

Searching online for snow blowers, I find that even the cheapest models run about $250. I quickly call back and tell them to go ahead with the repair.

It's an excellent example of a value bet, because they know that my other options are limited. You can't even find used snow blowers for much less than $200. To me, $125 is too much to pay to screw a new plastic wedge to the underside of my snow blower. However, looking at the hand I was dealt (I'm leaving for Ireland in a few days; it needs to be working for Beth; I don't have time to shop for a used model), I quickly agreed.

Does anybody else have a real life example of a value bet that they reluctantly paid (or charged)?