"There's a 20% Probability I'll Let You Do That"
"Alumna Andrea Coravos on Econ, Consulting, and Life After Duke"

"Two Simple Reasons We Overpay For Wedding Dresses"

Not really. Competition should drive the price to marginal cost no matter how ignorant or foolish the buyers are.

I suspect--but haven't checked--that a big part of the "overpayment" stems from the retail markup and that markup, in turn, has a lot to do with keeping a very large inventory that turns over slowly. 

Evidence seemingly in support: see bridal boutique Kleinfeld.