Priceless

Uncover the Hidden Psychology of Value and Master the Art of Pricing Strategy

In Priceless, bestselling author William Poundstone reveals the hidden psychology of value. Drawing from psychological experiments, Poundstone shows how people are unable to accurately estimate "fair" prices and are strongly influenced by unconscious, irrational, and politically incorrect factors. Marketers have quickly applied these findings, with "price consultants" advising retailers on how to convince consumers to pay more for less, and negotiation coaches offering similar advice for businesspeople cutting deals.

The new psychology of price dictates the design of price tags, menus, rebates, "sale" ads, cell phone plans, supermarket aisles, real estate offers, wage packages, tort demands, and corporate buyouts. Prices are the most pervasive hidden persuaders of all. Rooted in the emerging field of behavioral decision theory, Priceless is an indispensable guide for anyone who negotiates, from consumers to entrepreneurs to corporate executives. Uncover the secrets behind pricing strategies and gain a valuable edge in any negotiation or market transaction.