Pricing, The Secret
Posted on19 Sep 2013
Tagsanchoring, Dan Ariely, Drazen Prelec, economics, food, George Loewenstein, Influence, James Surowiecki, lobster, neoclassical economics, price, rationale, restaurant, subjective, supply and demand, taste, The Economist, The New Yorker, Tom Sawyer fence painting, values, violins
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
