Predictably Irrational: A Practical Look at Pricing Psychology (Why We Leave Money on the Table)

Domain: Business of Law

When it comes to pricing and in particular our reaction to price, Homo sapiens is not always Homo economicus, the paragon of cold-blooded rationality assumed by many formal economic models.

As buyers, we are all 'predictably irrational'. Why do many prices end with a '9'? Why do we still have a headache after taking an aspirin costing 1p but the headache clears up after taking an aspirin that cost 50p? (New England Journal of Medicine, July 11, 2002) Understanding even a little of how clients 'process' pricing can provide valuable insights.

Topics include:

• Discover the art, science and power of behavioural economics & pricing psychology
• Gain insights into why ‘packaging’ is as important for pricing services as it is for goods
• Identify some practical real-world applications of the concepts

Presenter(s): 
Richard Burcher, Validatum (UK) Limited

Member Price: $59
Prospective Member Price: $79