Priceless: the myth of fair value (and how to take advantage of it)

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Varies, see individual formats and editions
Publication Date:
2010
Language:
English

Description

Prada stores carry a few obscenely expensive items in order to boost sales for everything else (which look like bargains in comparison). People used to download music for free, then Steve Jobs convinced them to pay. How? By charging 99 cents. That price has a hypnotic effect: the profit margin of the 99 Cents Only store is twice that of Wal-Mart. 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. 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. "Price consultants" advise retailers on how to convince consumers to pay more for less, and negotiation coaches offer similar advice for businesspeople cutting deals. 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. Prices are the most pervasive hidden persuaders of all. Rooted in the emerging field of behavioral decision theory, Priceless should prove indispensable to anyone who negotiates.

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ISBN:
9780809094691
9781429943932

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Grouping Information

Grouped Work ID63c3a5f2-c335-e80b-dadc-9c70c21c5106
Grouping Titlepriceless the myth of fair value and how to take advantage of it
Grouping Authorwilliam poundstone
Grouping Categorybook
Grouping LanguageEnglish (eng)
Last Grouping Update2025-07-02 22:23:43PM
Last Indexed2025-07-03 22:33:00PM

Solr Fields

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Poundstone, William
display_description
Prada stores carry a few obscenely expensive items in order to boost sales for everything else (which look like bargains in comparison). People used to download music for free, then Steve Jobs convinced them to pay. How? By charging 99 cents. That price has a hypnotic effect: the profit margin of the 99 Cents Only store is twice that of Wal-Mart. 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. 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. "Price consultants" advise retailers on how to convince consumers to pay more for less, and negotiation coaches offer similar advice for businesspeople cutting deals. 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. Prices are the most pervasive hidden persuaders of all. Rooted in the emerging field of behavioral decision theory, Priceless should prove indispensable to anyone who negotiates.
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Books
eBook
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Book
eBook
id
63c3a5f2-c335-e80b-dadc-9c70c21c5106
isbn
9780809094691
9781429943932
itype_eh
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last_indexed
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literary_form
Non Fiction
literary_form_full
Non Fiction
primary_isbn
9780809094691
publishDate
2010
publisher
Farrar, Straus and Giroux
Hill and Wang
recordtype
grouped_work
subject_facet
Business
Consumer behavior
Electronic books
Industries
Pricing
Retail trade
Sales
title_display
Priceless : the myth of fair value (and how to take advantage of it)
title_full
Priceless : The Myth of Fair Value (and How to Take Advantage of It) [electronic resource] / William Poundstone
Priceless : the myth of fair value (and how to take advantage of it) / William Poundstone
title_short
Priceless
title_sub
the myth of fair value (and how to take advantage of it)
topic_facet
Business
Consumer behavior
Electronic books
Industries
Pricing
Retail trade
Sales

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