|
|
|
|
|
|
|
|
Featured Item:
WEALTH VIRTUES
A Guide to acquire more money than you spend and to save more
money than you owe
List Price: $26.99Amazon.com's Price: $17.81 You Save: $9.18 (34%)as of 09/09/2010 02:05 EDT
Availability: Usually ships in 24 hours
This item ships for FREE with Super Saver Shipping.
Binding: Hardcover
Dewey Decimal Number: 338.52
EAN: 9780809094691
Edition: First Edition
ISBN: 080909469X
Label: Hill and Wang
Manufacturer: Hill and Wang
Number Of Items: 1
Number Of Pages: 352
Publication Date: January 05, 2010
Publisher: Hill and Wang
Release Date: January 05, 2010
Studio: Hill and Wang
Features:- ISBN13: 9780809094691
- Condition: New
- Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed
Related Items:
Alternate Versions: Click to Display
Browse for similar items by category: Click to Display
Editorial Review:
Product 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.
Average Rating: 
Rating:  -
I found this book to be an entertaining and well-researched romp through the strategy of pricing and human decision-making. Here is the basic lesson of the book - Prices are not an absolute and the perception of a "fair price" is subject to manipulation and positioning. By using the right techniques and taking advantage of certain cognitive fallacies and biases that we all have just about any price for an item can be made to look fair. How to accomplish this is explained throughout the book.
Read More
Rating:  -
Herbert Simon's most enduring contribution is that we are confined to our own `bounded rational'. We are too busy, to ill-informed, and occasionally too boneheaded to think things through. Therefore, our decisions resort to heuristics, or mental shortcuts, to arrive at quick, intuitive choices.
In addition as we learn in 'Priceless', our mental intensity to subjective perception follows the characteristics of a power curve law. Examples of this mental intensity include: it takes 1.7 times ... Read More
Rating:  -
This book is an effort to dispel the myth of homo economicus, the hypothetical creature that always acts rationally to maximise utility. The book is an overarching review of behavioral finance, the body of economic research that proposes hypotheses based on actual experiments rather than theoretical models. Overall I found the book quite comprehensive and reasonably well written.
However there is no disguising the fact that it is basically a collection of academic paper reviews. I found the ... Read More
Rating: -
There are quite a few behavior economics books published in the past few years such as Nudge by Thaler/Suntein and Irrationality books by Ariely. These are the scholars and researchers who came up with many of the ideas and experiments to expose human behavior. Author William Poundstone does not have the same in-depth academic knowledge as the other authors and cannot explain the experiments quite as well. However, he makes up by well researching the topics and the many business cases he compiles to support ... Read More
Rating: -
Yes,but I did get this from the library. This book confirmed my unease that I, and apparently most other people, really cannot clearly establish what anything should cost. It is bad enough at the supermarket (are organic or free trade items really worth that much more?) but even worse with larger items bought less frequently (airline flights, appliances). And for once in a lifetime events - a jury deliberating on a major civil lawsuit, forget it.
The author pulls out many fascinating nuggets behind ... Read More
|
|
|
|
