Are we so giddy about seeing something for free that we are no longer able to compare the value of the item? Why is it that most people will by a 15 cent Lindt truffle over a 1 cent Hershey Kiss but when the Kiss is free people barely buy the truffle. If you want to… Continue reading The Cost of Free
Tag: Dan Ariely
Paying More
Do people only pay more when the supply is low and the demand is high? Isn’t that what basic economics assumes? If you want to influence what people will pay review the series of experiments done in the Predictably Irrational chapter called “The Fallacy of Supply and Demand: Why the Price of Pearls – and… Continue reading Paying More
Making a Choice
Do you ever find that when you provide people a choice between 2 things that they always seem to pick the wrong one? If you want to influence what people select take the series of experiments done in the Predictably Irrational chapter called “The Truth about Relativity: Why Everything is Relative – Even When It… Continue reading Making a Choice