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The Myth of Fair Value
in: Economics

The book delves into the psychology of pricing and decision-making, exploring how people often struggle to determine the true value of goods and services. It examines the influence of marketing, the power of pricing strategies, and provides insights on how consumers can be manipulated by perceived value, offering strategies to make better-informed decisions.

Key points:

1. Anchoring Effect: Initial prices heavily influence decision-making. Retailers use high starting prices to make other prices seem reasonable.

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