Priceless: The Myth of Fair Value (and How to Take Advantage of It)
| Author | : | |
| Rating | : | 4.18 (933 Votes) |
| Asin | : | 0809078813 |
| Format Type | : | paperback |
| Number of Pages | : | 352 Pages |
| Publish Date | : | 2017-02-15 |
| Language | : | English |
DESCRIPTION:
All rights reserved. Beginning with the controversial lawsuit in which a jury awarded $2.9 million in damages to a woman who had spilled a scalding cup of McDonald's coffee on herself, the author presents a readable history of how we are subtly manipulated into paying more (or less) for goods and services—and the research that attempts to explain our baffling and irrational susceptibility to pricing. . The idea of anchoring and adjustment—setting an arbitrary number to subconsciously drive higher or lower estimates—is just one of many research areas explained at length. Nevertheless, the scope of the analysis—its attention to economic abstractions as well as real-world consequences—braids together theory and practice to leave an indelible impression on the reader. While Poundstone's case studies are vivid, the abundance of theories and experiments might prove overwhelming for the casual reader. Grocery shopping will never
A practical BF book - finally Priceless opened a whole new world to me, a world that was always right in front of my eyes. Behavioral study fields always have fascinating tales. Tales about our own behaviour that defy logic and tell us something weird about ourselves. But most books on the subject fail to go past the tagging of these phenomenon and mocking at our own irrationality. They spend inordinate time going after the classical theories. This is where Priceless has something different to offer.To be sure, the well-written book has the usual things one gets in other books: the name-dropping, jargonizing, experiments th. "Not priceless, but close" according to Sylver. The subject of prices is a tricky one. Every person on this planet is, one way or another, confronted to that question. Is this price fair? Am I overpaid or underpaid? How much should I charge for my new product?This book doesn't answer these questions directly, but goes over the basics of how people interact with prices and provide viable strategies to increase your sales and income.. An important work on pricing psychology Peter P. Smith This is an important work on pricing psychology that has taken its place alongside Ryski's Conversion, Dixon and Toman's The Effortless Experience and Buckingham's First Break All The Rules, as must reads for my friends and colleagues who run businesses. Highly recommended if you involved in any way in sales. Peter Smith, Author, Hiring Squirrels
Why do text messages cost money, while e-mails are free? Why do jars of peanut butter keep getting smaller in order to keep the price the "same"? The answer is simple: prices are a collective hallucination.In Priceless, the bestselling author William Poundstone reveals the hidden psychology of value. Rooted in the emerging field of behavioral decision theory, Priceless should prove indispensable to anyone who negotiates.. In psychological experiments, people are unable to estimate "fair" prices accurately and are strongly influenced by the unconscious, irrational, and politically incorrect. It hasn't taken long for marketers to apply these findings. How? By charging 99 cents. Prices are the most pervasive hidden persuaders of all. That price has a hypnotic effect: the profit margin of the 99 Cents Only store is twice that of Wal-Mart. People used to download music for free, then Steve Jobs convinced them to pay. The new psychology of price dictates the design of price tags, menus, rebates, "sale" ads, cell phone plans, supermarket aisles, real estate offers, wage packages, tort demands, and corporate buyouts. "Price consultants" advise retailers on how to convince consumers to pay more for less, and negotiation coaches offer sim