Predictably Irrational: Landmark Application of Psychological Insight
Consumers will drive 20 minutes across town to save $7 on a $20 pen, but won’t drive 20 minutes across town to save $7 on a $500 suit. Isn’t seven dollars, seven dollars?
Restaurant patrons will be less satisfied with their dinners if they’ve ordered aloud within a group of friends than if they place their orders privately. Why do we sacrifice a sensual experience for the projection of our image to our friends?