Pricing, The Secret
Posted on19 Sep 2013
Tagsfood, The Economist, taste, subjective, restaurant, rationale, price, neoclassical economics, James Surowiecki, Influence, The New Yorker, economics, Dan Ariely, anchoring, violins, lobster, supply and demand, Drazen Prelec, George Loewenstein, values, Tom Sawyer fence painting
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The secret to pricing is its arbitrariness, subjectivity. What disrupts this is anchoring, a preconceived benchmark of what should be the price.... Read More
