Pricing, The Secret
Posted on19 Sep 2013
Tagsanchoring, Dan Ariely, The Economist, violins, lobster, supply and demand, Drazen Prelec, George Loewenstein, values, Tom Sawyer fence painting, The New Yorker, taste, subjective, restaurant, rationale, price, neoclassical economics, James Surowiecki, Influence, food, economics
Comments2
The secret to pricing is its arbitrariness, subjectivity. What disrupts this is anchoring, a preconceived benchmark of what should be the price.... Read More
Lying About Honesty
We like to believe we’re honest. However, who we are is often quite different from who we think we are; thus, we... Read More
What Consumer Psychology Teaches Us About Problem Solving
Posted on27 Sep 2010
Tagsbeverages, drugs, decisions, Dan Ariely, cost-benefit, consumer, competitive, cognition, change, buying habits, business, brain, emotions, anticipatory, people, teach, rewards, rationale, psychology, problem solving, price, peer pressure, objective, Michael I. Norton, low-cost, keeping up with the Joneses, intuition, How Concepts Affect Consumption, Harvard Business Review, goal setting, expectations
Comments0
We often anticipate and rationalize people’s decisions using a cost-benefit analysis. This perspective frequently leads to erroneous conclusions and restricts problem-solving capabilities.... Read More
