William Poundstone

In this conversation, William Poundstone, author of Priceless, explores the intriguing realm of pricing psychology. He dives into the concept of anchoring, discussing how high-priced items can make others seem like bargains. Poundstone reveals the flat-rate bias in subscription services and its impact on consumer choices. He also shares how perceived fairness influences buying decisions and the psychology behind menu design tactics that drive sales. Ultimately, he emphasizes the importance of presenting multiple reasons for customers to perceive value.