Episode 86 Interview: William Poundstone, author of Priceless, on anchoring, fairness, and the myth of “fair value”
In this episode, we talk with William Poundstone, author of Priceless, about how pricing psychology shapes behavior. From anchoring and fairness to flat-rate bias, we explore how marketers can use behavioral science to influence value perception and drive smarter pricing decisions.
Episode Highlights
A million-dollar showpiece sets a sky-high reference point. Next to it, merely expensive items feel “reasonable,” nudging shoppers to buy pricier goods they’d reject in isolation.
Adding a bigger, costlier bread maker flopped - but it doubled sales of the cheaper unit. The pricey decoy made $279 feel like smart value, turning hesitation into purchase.
Center-justified layouts, no dollar signs, and eye-catching “anchors” make price comparison harder and premium picks feel normal - subtly shifting choices toward higher-margin dishes.
Resources & Useful Links
See below for additional resources from this week's episode.
Keep Listening
Ep85 - Interview: Adam Alter, NYU marketing professor and author of Irresistible, on nine-enders, fluency, and naming that sells
Interview: Adam Alter, NYU marketing professor and author of Irresistible, on nine-enders, fluency, and naming that sells
Ep84 - Orlando Wood, author of Lemon and Look Out, on why showmanship beats salesmanship
In this episode, we sit down with Orlando Wood - author of Look Out and Lemon - to explore why modern advertising struggles to make an impact. He explains how showmanship, emotional resonance, and fluent devices can restore effectiveness and build lasting brand value.
