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The Price is Wrong. Understanding What Makes a Price Seem Fair and the True Cost of Unfair Pricing. Edition No. 1

  • ID: 2242647
  • Book
  • February 2008
  • 256 Pages
  • John Wiley and Sons Ltd
Fair pricing is an issue that affects us all, whether we?re consumers or merchants. Throughout her career, Sarah Maxwell has seen how pricing practices?across a variety of different areas, from mobile phones and airline tickets to prescription drugs and gasoline?impact our everyday lives. Now, with The Price Is Wrong, Maxwell shares her deepest insights on this issue and examines both the psychological and sociological basis of fair pricing.
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Foreword ix

Acknowledgments xiii

About the Author xv

Part I: Background

Chapter 1: Introduction: "Play fair or I quit!" 3

Chapter 2: History: "A ‘just' price is not God-given!" 13

Part II: Model

Chapter 3: Model: "Now I'm not just annoyed, I'm furious!" 23

Chapter 4: Norms: "That's wrong, and we all know it!" 31

Chapter 5: Emotions: "You're not being fair and I hate you!" 41

Chapter 6: Expectations: "That price is a rip-off!" 47

Chapter 7: Outcomes: "You should get what you pay for!" 55

Chapter 8: Attributions: "The seller is to blame!" 65

Chapter 9: Process: "Ya gotta play by the rules!" 73

Chapter 10: Punishment: "Revenge is sweet!" 85

Chapter 11: Power: "Beware a customer wronged!" 93

Chapter 12: Trust: "Fair price? I doubt it!" 101

Part III: Applications

Chapter 13: Modifications: "Sorry! The rules have changed!" 111

Chapter 14: Tipping: "Just don't stiff the waiter!" 119

Chapter 15: Discrimination: "It's unfair to charge me more than others!" 125

Chapter 16: Negotiations: "Split the difference. That's fair!" 133

Chapter 17: Taxes: "Paying taxes is as American as disliking taxes" 145

Chapter 18: Culture: "But I never ordered any bread!" 155

Chapter 19: Practices: "So how is a company supposed to price fairly?" 165

Notes 179

Glossary 205

References 213

Index 233

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Sarah Maxwell
Note: Product cover images may vary from those shown