so explain how it is a science?
Why?
And the assumption of a perfect market is implicit in LA's position that consumers have knowledge of all prices.
I must have missed that, where did he make that claim?
Care to tell me about how people understand freight pricing?
Well I don't know about freight pricing. I imagine you look it up on the Internet or ring up the companies.
However, I do know about human travel. Let's say I need to travel from my house in the South East to Newcastle where my company's biggest customer is based. I can easily get price information for car, train and aeroplane which are the three practical competing means of transport to get me there. Then I factor in the time it takes to get there by each means (which has a cost because my time is not free) and it usually turns out that the plane is the cheapest means of getting there, mainly because I live conveniently close to Heathrow.
There you are, the train company (two train companies actually, because I have two alternative routes) are in competition with car and plane and they lose.