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When evaluating a transaction, traditional economic models simply compare the value to the price. Real, human people, however, compare value to price plus other elements, like fairness.
Dan Ariely • Dollars and Sense
Money is not the only attribute that is easily used for points of comparisons.
Dan Ariely • Dollars and Sense
the amount we’re willing to pay for things often depends, to a large degree, on how fair the price appears to be.
Dan Ariely • Dollars and Sense
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
This is the first lesson in this book: economic security isn’t a function of what you earn but what you keep and knowing how much is enough for you.
Scott Galloway • The Algebra of Wealth: A Simple Formula for Success
Society faces greater risks than you becoming a millionaire.