Why prices don’t always make sense
Book: Priceless: The myth of fair value (and how to take advantage of it) Author: William Poundstone Volume: 182 Pages Publisher: Macmillan |
So you managed to negotiate a good salary at your new job or possibly got the guy who sold you the Toyota Harrier to climb down by a whopping Shs 3 million. Well, may be then you are good at getting great deals - or maybe you are just easier to fool. In his new book, Priceless: The myth of fair value (and how to take advantage of it), American skeptic and best-selling author William Poundstone, re-examines the psychology of pricing.
Is the hawker who prices a pair of men’s socks at Shs 3,000 but quickly accepts Shs 1,500 smart? Why doesn’t Nando’s offer its medium pizzas at Shs 18,000 everyday if it makes sense to offer it on super-Tuesday? What are the psychological secret behind the many offers by the telecoms companies, supermarket chains, your corner shop in Bugolobi, and in the boardroom?
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