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Episode 130 - Price...a non-issue?
This week's article is sure to offend some listeners. If you're a short man or an overweight woman, the British Medical Journal has bad news for you. Hey were just the messenger! Check out their recent study linking hight, body mass, and socio-economic status. "Price is what you pay. Value is what you get." -Warren Buffett The Law of Contrast explains how we are affected when we are introduced to two different alternatives or options in succession. We know that contrasting two alternatives can distort or amplify our perceptions of price, time or effort. Generally, if the second item is quite…
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