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That’s because another important way we value things—a way unrelated to actual value—is by assigning meaning to a price. When we can’t evaluate something directly, as is often the case, we associate price with value.
Dan Ariely • Dollars and Sense
Whether it makes sense or not, a high price signals a high value. In the case of important things like health care, food, and clothing, it also signals that the product isn’t cheap or of low quality.
Dan Ariely • Dollars and Sense
Money represents VALUE. Money itself has no value. It only represents the value of other things that we can get with it. It’s a messenger of worth.
Dan Ariely • Dollars and Sense
val-ue: something desirable and of worth, created through exchange or effort
Chris Guillebeau • The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future
rate. In other words, the utility of the first $100 you win or earn is greater than your utility from the next incremental $100.
Hermann Simon • Confessions of the Pricing Man: How Price Affects Everything
In most real transactions, however, the owner of an item believes it to be worth more than the buyer.
Dan Ariely • Dollars and Sense
Value is what a business is worth. Price is what you have to pay to get it.
Daniel Pecaut • University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
Service features billed by usage are usually the core value metric of a subscription service offering: the most valuable feature to use, and the most expensive to deliver. If a company charges for use of something that is not clearly providing value, there is the potential to enrage rather than engage!