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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

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Book ID Asin: 0809078813
Book Title: Priceless: The Myth of Fair Value (and How to Take Advantage of It)
Book Author: William Poundstone
Book Format and Price:
Book Format Name: Kindle
Book Format Price: $12.99
Book Format Name: Hardcover
Book Format Price: $25.50
Book Format Name: Paperback
Book Format Price: $16.99
Book Price: $16.99
Book Category: Books, Business & Money, Economics and unknown
Book Rating: 264 ratings

Priceless: The Myth of Fair Value (and How to Take Advantage of It) by William Poundstone Book Review

Name: A M
Rating: 4.0 out of 5 stars
Title: Peopleassignpricestoproductsirrationally
Date: Reviewed in the United States on December 4, 2020
Review: The book reviews many experiments related to the way people assign prices to products. Most of these experiments are based on Kahneman and Tversky's ideas about our failure to be rational in many cases. Some of the ideas presented in the book can be practically applied when a businessperson and a client negotiate a price.

Name: Mostafa Hashem
Rating: 4.0 out of 5 stars
Title: Importantintroductiontocustomerspsychology
Date: Reviewed in the United States on October 14, 2018
Review: This book don't offer a standard pricing schema that you can use in your business because there is None.The book is a great introduction to the factors that MAY controls customer's interpretations of the price tag on a product or a service. but you will need to following your reading with other books discussing and explaining psychology in general and the behavioral economics specifically.the Author has gone through many theories and explained them very well through the book and listed many examples that mentioned and explained subjects behaviors.

Name: Elenor
Rating: 5.0 out of 5 stars
Title: Extremelyhelpfulandenjoyable
Date: Reviewed in the United States on April 10, 2014
Review: I inherited a small manufacturing company when my husband died in 2011. I've kept it going, and have impressed all my distributors and customers with the excellent upgrades and changes I have made to our products. I'm still climbing a VERY steep learning curve -- I've run an editing company (services) years ago, but never a products company... As a woman, I struggle with pricing and with being "fair" -- which means I sometimes don't charge a fee that I should, or -- as now -- when I should raise prices (to account for all the upgrades I've made), but "feel bad" about it...This book -- despite others' complaints that it is disjointed -- provided me with 'bite-sized,' easy to follow, clear and useful information and examples to guide me in understanding how the company pricing should be managed. I am VERY grateful to William Poundstone for gathering up all this amazing info into one place, and making it a pleasurable read too! I finished it recently, and am beginning again at the first page -- having now gotten a good grounding, I will pull out my actionable steps!I don't KNOW for sure that it helped, but I'll bet it did: I submitted with my application to re-fi my house the current Zillow, Trulia, and USAA "home values" -- setting an anchor high enough (I hoped) that the 'credit committee' would take those prices as the anchor for considering the house value. Then I also printed it out, with the list of things done in the remodel done before my husband's death (which the crappy appraiser in 2012 had ignored; he had said no remodels had been done in 15 years -- which wiped out the $70k we spent in 2008!! and appraised the house way way way low!)( and gave that list -- of prices and remodel changes -- to the appraiser, hoping the 'anchors' would lead him to start high -- and stay high -- so my loan-to-value would allow approval. Seems to have worked!REALLY found this book useful!

Name: Dana Golden
Rating: 5.0 out of 5 stars
Title: Excellentreadforanyonewhohaggles
Date: Reviewed in the United States on January 14, 2020
Review: Great book at explaining behavioral economics. Takes the relatively boring topic of pricing and inserts an amazing take on why it matters. Gets into the psychology of pricing and how pricers manipulate your emotions.

Name: RV52
Rating: 5.0 out of 5 stars
Title: Onlyreadthisifyouarewillingtohaveyourbeliefschallenged
Date: Reviewed in the United States on September 3, 2015
Review: This is a wonderful review of the pricing research that exists in the world . I had a number of preconceptions very much challenged by this book . After reading this and having been able to step back a bit I can see the pricing information at work and my own product lines. Plus the book was downright fun and there was a lot of good humor in the book as well.

Name: J Parr
Rating: 5.0 out of 5 stars
Title: PricelessparadigmWeallknowatleastalittlebitaboutwhatthisbookreveals
Date: Reviewed in the United States on October 4, 2013
Review: There is nothing pretentious about Mr Poundstone and the information he presents in this book that attempts (successfully in my view) to outline the huge marketing machine - tricks of the trade and how we are all sucked in to some degree by the bombardment we are subjected to on a daily basis.Most of it is quite meticulously described and he claims little personal credit (while lauding others) for any of the solid research and solid evidence to support his claims.The nutty thing is that this book, if absorbed in nibbles, will ring all your bells. Basically WE ALREADY ALL KNOW what Mr. Poundstone has to say. What we do not do is allow most of this knowledge into our fore-brain - and this is unashamedly the purpose of this book.Apart from the "I know this" shocks that will accompany many readers progress through this well written tomb, there are many informative examples of just how readily influenced most of our 'apparently logical deductions and choices are by wholly subjective and/or random previous suggestion and events.To read this book - and understand its contents - is a solid beginning to gaining a "freedom..." you did not even know you were missing.It is effectively a scientific endorsement of what you already know but also many insights you may find helpful by way of defending yourself against both the ruthless and subtle provocateur.A great book to add to your "periodic reference" shelf.