Sublime

When we have no idea what something should cost, we believe we’re making the best decision if we neither overspend on the deluxe model nor go too cheap on the basic one.

Winner-take-all-Märkte mit wenigen Gütern, die Sichtbarkeit, affektiven Reiz und anerkannten Wert in extremem Maße auf sich ziehen, und vielen Gütern, denen dies nicht gelingt.

There is useful research that suggests that people consume more when everyone knows that the bill will be split, taking some advantage of their unsuspecting dinner partners, as Greg did with the expensive wine.11 This tendency to over-order when the bill is split evenly suggests that the best payment method is for everyone to pay for what they eat

We are constantly making decisions about whether something is worth our money, or trying to convince others to part with their money.

After making a payment, the customers want to “earn it back” and visit the studio on a regular basis. The frequency of visits starts to decline, though, the further the most recent payment recedes into the past. By encouraging monthly payment s, the studio restores the customers’ incentive to get their money’s worth back. With monthly payments, the

Mathematically, there is an optimal way to play such games, but it assumes that players are strangers who will never meet again (i.e. you and that secondhand car salesman). Dutifully, the students produced the optimal solution. But most of the players in the ethnographic societies did not. They either accepted offers that were far too low or insist

a disposição dos consumidores em pagar é um dos dois fatores que determinam os preços de mercado (demanda). Mas, como nossos experimentos demonstraram, o que os consumidores estão dispostos a pagar pode ser manipulado, ou seja, os consumidores não têm um bom controle sobre as próprias preferências e sobre os preços que estão dispostos a pagar por d

When we own something, we value it more highly than an identical item that we do not own. Richard Thaler was the first to name this cognitive illusion, calling it the endowment effect.

the amount we’re willing to pay for things often depends, to a large degree, on how fair the price appears to be.