Metadata
- Author: William Poundstone
- Full Title: Priceless
- Category: #books
Highlights
- coherent arbitrariness. This says that consumers really don’t know what anything should cost. (Location 117)
- Buyers are mainly sensitive to relative differences, not absolute prices. (Location 119)
- When people are given three prices (think of those for small, medium, and large coffee), and they have no strong preference, they tend to pick the ‘middle’ price. (Location 380)