Priceless, The Myth of Fair Value and How to Take Advantage of It
The Myth of Fair Value and How to Take Advantage of It
Book •
In 'Priceless,' William Poundstone delves into the fascinating world of pricing psychology, revealing the hidden biases and irrationalities that influence our perception of value.
Drawing on research from behavioral economics, the book explores how marketers and businesses can manipulate prices to impact consumer decisions.
Poundstone examines tactics such as anchoring, framing, and the power of suggestion, illustrating how these strategies can affect our willingness to pay.
He provides real-world examples and case studies, demonstrating how pricing strategies are used in retail, restaurants, and other industries.
By understanding the psychology behind pricing, readers can become more savvy consumers and make better informed purchasing choices.
Drawing on research from behavioral economics, the book explores how marketers and businesses can manipulate prices to impact consumer decisions.
Poundstone examines tactics such as anchoring, framing, and the power of suggestion, illustrating how these strategies can affect our willingness to pay.
He provides real-world examples and case studies, demonstrating how pricing strategies are used in retail, restaurants, and other industries.
By understanding the psychology behind pricing, readers can become more savvy consumers and make better informed purchasing choices.
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Mentioned as one of Michael and Richard's favorite works that explores how behavioral economics has upended everything.
Interview: William Poundstone, author of Priceless, on anchoring, fairness, and the myth of “fair value”
