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
How Often Do Customers Pay Different Prices for the Same Thing? The theory of supply and demand teaches us that consumers will pay the same prices for the same goods in a competitive market. In reality, however, markets are rarely … Continue reading What’s the right price?