PRICELESS
The Myth of Fair Value (and How to Take Advantage of It)
Paperback
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An eye-opening examination of the "hidden psychology of value" reveals that price, rather than based on a stable rational metric, is actually a "collective hallucination" influenced by the unconscious and irrational.
Rooted in Nobel Prize–winning research in behavioral-decision theory, the book describes experiments demonstrating that people poorly estimate "fair" prices accurately, the "anchor effect" of our senses in making comparisons, and how marketers can and are seizing upon such weaknesses to tailor advertising and packaging to the smallest detail. The author devotes the book’s latter half to providing in-depth, real-world examples of its thesis.
| Copyright | 2010 |
|---|---|
| Publisher | Farrar, Straus and Giroux |
| Pages | 336 |
| Grade | 9 and up |
| ISBN | 9780809078813 |