Recommended reading this week.
Nudge – The Veblen Effect
Psychological insight: This is a good outline of the so-called Veblen Effect i.e. customers judge quality by the price of the product or service.
https://nudge.kit.com/posts/why-i-spend-922-12-a-year-to-send-you-these-emails-nudge-newsletter
Science Says – Anticipation
Psychological insight: People enjoy an experience more when they have anticipated it in advance.
https://app.sciencesays.com/p/anticipation-increases-actual-enjoyment
Choice Hacking – Price-Quality Effect
Psychological insight: Coincidentally, Jen Clinehens and Phill Agnew seem to have covered the same topic! This article is also about judgement of quality, based on a higher price
https://www.choicehackingideas.com/p/why-2x-ing-your-prices-can-2x-your-sales
Photo by charlesdeluvio on Unsplash
