- Paperback: 352 pages
- Publisher: Hill and Wang; First edition (January 4, 2011)
- Language: English
- ISBN-10: 0809078813
- ISBN-13: 978-0809078813
- Product Dimensions: 5.5 x 1 x 8.2 inches
- Shipping Weight: 10.6 ounces (View shipping rates and policies)
- Average Customer Review: 97 customer reviews
- Amazon Best Sellers Rank: #408,137 in Books (See Top 100 in Books)
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Priceless: The Myth of Fair Value (and How to Take Advantage of It) Paperback – January 4, 2011
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“Priceless is an instructive and entertaining romp through the hits of recent research on decision making, which will leave you amused, smarter, and wondering about what money and prices really mean.” ―Daniel Kahneman, professor emeritus, Princeton University, and winner of the 2002 Nobel Prize in Economics
“A powerful argument that should be a wake-up call to everyone who still subscribes to the old model of economics.” ―Dan Ariely, author of Predictably Irrational: The Hidden Forces that Shape Our Decisions
“Poundstone has managed to write a book that is fun to read and yet well-researched and substantive. Without a minute of suffering the reader gets to know nearly all the key contributors to the science of decision making. Recommended for anyone who has to make decisions.” ―Richard H. Thaler, coauthor (with Cass R. Sunstein) of Nudge: Improving Decisions on Health, Wealth and Happiness
“The psychology of prices is, to an extent, the psychology of life, and thus the lessons of Priceless are indeed life lessons. Poundstone's lively descriptions of the irrational quirks that characterize our behavior are engaging and enlightening. Take it with you when you're thinking of buying (or selling) something. It might save you a bundle.” ―John Allen Paulos, author of Innumeracy: Mathematical Illiteracy and Its Consequences and Irreligion: A Mathematician Explains Why the Arguments for God Just Don't Add Up
“If you can get this book for under $100, grab it! After you read it, you will better understand why the price you paid felt like a bargain.” ―Max Bazerman, professor of business administration, Harvard Business School, and coauthor of Judgment in Managerial Decision Making
“Much of behavioral economics . . . has focused on the seemingly crazy ways in which people and prices interact. In his new book Priceless, William Poundstone offers a thoroughly accessible and enjoyable tour of this research . . . Poundstone is an engaging intellectual historian who traces the development of behavioral economics from its roots in the 1960s discipline called psychophysics, an offshoot of psychology . . . It was more than century ago that Oscar Wilde famously observed that ‘people know the price of everything and the value of nothing.' In Priceless, we now have the proof.” ―Steven Pearlstine, Washington Post
“Pricing is a richer subject than you might imagine. The smile that creeps onto your face when a shameless marketing gambit reminds you of something you read in Poundstone's book? Priceless.” ―Peter Coy, Business Week
“[Poundstone] makes complicated economic and psychological concepts palatable by using a numble, colloquial style in refreshingly short chapters . . . Dozens of fascinating topics are explored . . . At the end you will be left wondering what money and prices really mean--the dizzying quirky irrational sort of wonder that Alice found in ‘Wonderland.'” ―Roger Miller, The Denver Post
“Bright analysis of the psychology of pricing . . . readable and revealing.” ―Kirkus Reviews
About the Author
William Poundstone is the author of two previous Hill and Wang books: Fortune's Formula and Gaming the Vote.
Top customer reviews
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This book doesn't answer these questions directly, but goes over the basics of how people interact with prices and provide viable strategies to increase your sales and income.
This book -- despite others' complaints that it is disjointed -- provided me with 'bite-sized,' easy to follow, clear and useful information and examples to guide me in understanding how the company pricing should be managed. I am VERY grateful to William Poundstone for gathering up all this amazing info into one place, and making it a pleasurable read too! I finished it recently, and am beginning again at the first page -- having now gotten a good grounding, I will pull out my actionable steps!
I don't KNOW for sure that it helped, but I'll bet it did: I submitted with my application to re-fi my house the current Zillow, Trulia, and USAA "home values" -- setting an anchor high enough (I hoped) that the 'credit committee' would take those prices as the anchor for considering the house value. Then I also printed it out, with the list of things done in the remodel done before my husband's death (which the crappy appraiser in 2012 had ignored; he had said no remodels had been done in 15 years -- which wiped out the $70k we spent in 2008!! and appraised the house way way way low!)( and gave that list -- of prices and remodel changes -- to the appraiser, hoping the 'anchors' would lead him to start high -- and stay high -- so my loan-to-value would allow approval. Seems to have worked!
REALLY found this book useful!