Sunday, January 3, 2010

The Illusion of 70% Off: Deciphering The Psychology of Pricing

Consumer spending accounts for a whopping 70% of U.S. GDP, so it is no wonder that retailers spend a considerable amount of time, money and effort devising clever pricing strategies to lure in shoppers. In this audio interview, William Poundstone, author of the book Priceless: The Myth of Fair Value (and How to Take Advantage of It)explains the various gimmicks that retailers employ (through a clever analysis of human psychology) to fool us into parting with our dollars.
A fascinating listening for the last day of vacation bliss, before the dreaded back to work Monday arrives.

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