by William Poundstone
Poundstone traces the history of psychophysics and prospect theory to show that prices are not rational signals but malleable numbers anchored by context, menus, and decoys. He synthesizes the research of Kahneman, Tversky, and contemporary pricing consultants into a practical tour of how anchoring, coherent arbitrariness, and framing set what you pay.
In this collection, Priceless: The Myth of Fair Value (and How to Take Advantage of It) references 5 other books.
It draws on Predictably Irrational, Nudge and The Drunkard's Walk.
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The books Poundstone references and why each one mattered to the argument.
Cites Ariely's Predictably Irrational experiments on coherent arbitrariness and decoy pricing throughout the chapters on menu design
References Thaler and Sunstein's Nudge on default effects and choice architecture when explaining pricing menus and anchors
Draws on Mlodinow's The Drunkard's Walk when explaining how randomness and small-sample intuitions distort perceptions of value
Engages with Schwartz's The Paradox of Choice on how menu design and assortment exploit consumer decision-making
Cites Taleb's The Black Swan on how extreme events and narrative bias distort valuation and pricing
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3 shared citations
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3 shared citations
Thinking, Fast and Slow
Daniel Kahneman
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2 shared citations
Risk: The Science and Politics of Fear
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2 shared citations
Future Babble: Why Expert Predictions Are Next to Worthless, and You Can Do Better
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2 shared citationsThis book and its direct connections. Hover a node to see its title, click to visit.
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