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দেখছেন @adityadedhia/Predictably Irrational: Ancho…
3 weeks,5 days ago - microblocks
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"Tom had discovered a great law of human action, namely, that in order to make a man covet a thing, it is only necessary to make the thing difficult to attain," (Ariely).
Ariely goes into how the presence of an arbitrary selling price influences the consumer's idea of transactional value. A product that does not have an already established consumer perception of its true value can easily be used to manipulate the market forces. Is this not the same tactic many 'elite' hype or luxury brands use to artificially inflate demand for their product because of their initially high arbitrary anchor price? The saying 'you get what you pay for' is tossed out the window when it comes to these assets, as you are really just buying into the idea that this asset has a high perceived market value rather than its actual value. If I put it another way, we have no problems purchasing a $500 designer shoe³ but would think twice about investing the same $500 into a promising startup. What is the difference here? Nothing but a matter of pure irrationality. The tables would turn if the startup could market itself to inflate its value, but things of monetary value cannot have their values be inflated in the same way products and services can, and thus, we continue to make irrational decisions.
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