‘Anchoring’ was at work in setting the price of Novartis’ new gene therapy If the Empire State Building happened to be hollow, could you fill it with 1 billion ping pong balls? Would that number fall short, or would you … Continue reading A multimillion-dollar price tag
When Ketchup and Parking Are Similar There is no such thing as one price for ketchup. Looking at how much shoppers paid for a 36-ounce bottle of Heinz ketchup (in 2007), we can see $1.66 was the average. However, among … Continue reading Price dispersement
A novel way to prevent email overlaod I ask people to donate $20 to cold-email me. And I think everyone should. Allow me to start by making this personal: this is what I do for a living. I spend my … Continue reading The ‘sender pays you’ model
Prominence of Price People’s awareness of what products cost has been facing a decline. De Chernatony and Knox (1992) showed that consumers were much more accurate in recalling prices in 1958 than consumers in 1984, by doing a meta-analysis of … Continue reading Price recall
3 ways that Class Pass uses behavioral science to help us work out more (or: how to manipulate people for good) Their pricing encourages usage. The economically best option for people who like to work out is to get a … Continue reading Tips for classes
How Do Investors Compare Index Fund Fees? Imagine that you’re searching for a new car. And you’ve found two cars from different manufacturers that are effectively the same in terms of fuel efficiency, horsepower, and style. But one costs $20,000, … Continue reading Identical funds different fees
Coca-Cola to sell smaller bottles at higher prices in response to sugar tax Coca-Cola is to use smaller bottles and sell at higher prices rather than alter its famous sugar-laden secret recipe, while Irn-Bru faces a growing consumer backlash over … Continue reading Less sugar for better health
