Pricing, The Secret
Posted on19 Sep 2013
Tagsrestaurant, violins, lobster, supply and demand, Drazen Prelec, George Loewenstein, values, Tom Sawyer fence painting, The New Yorker, The Economist, taste, subjective, rationale, price, neoclassical economics, James Surowiecki, Influence, food, economics, Dan Ariely, anchoring
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
TagsMichael I. Norton, decisions, drugs, emotions, expectations, goal setting, Harvard Business Review, How Concepts Affect Consumption, intuition, keeping up with the Joneses, low-cost, Dan Ariely, objective, peer pressure, people, price, problem solving, psychology, rationale, rewards, teach, anticipatory, beverages, brain, business, buying habits, change, cognition, competitive, consumer, cost-benefit
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
