Sublime

pricing would increasingly become a matter of fixed-price…

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Price is the maximally compressed signal of economically relevant information.

By leveraging its high-cost seniors with low-cost juniors, the professional firm can lower its effective hourly rate and thus reduce its cost to clients while simultaneously generating additional profit for the partners.

“Setting our prices is easy,” a marketing director at a safety products company once told me. “We just look at what the premium supplier in our market does, and come in 10 % below them.”

The most important argument for the existence of odd prices is that customers perceive the digits in a price with decreasing intensity as they read from left to right.