Apr
6
Price Anchoring
Great article on price anchoring, I’m still chewing on the suggestion that it is better to be the first to suggest a price when negotiating. Maybe this is true, but it goes against asking for offers, I guess ideally you throw out a very large number as a suggestion, and then let them come in with an official offer below that. Much like the attorney asking for billions example in the article.
I do like the very wide application to this side effect of human psychology, ranging from negotiations, to product pricing. I assume you could even use this in the world of dating (suggesting you normally date models or something) or other games.
