“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
William Poundstone is the author of two previous Hill and Wang books: Fortune’s Formula and Gaming the Vote.
The $2.9 Million Cup of Coffee
In 1994 an Albuquerque jury awarded Stella Liebeck $2.9 million in damages after she spilled a piping-hot cup of McDonald’s coffee on herself. This resulted in third-degree burns and precious little sympathy from the American public. Late-night comics and drive-time DJs turned Liebeck into a punch line. Talk radio pundits saw the lawsuit as Exhibit A to What’s Wrong with Our Legal System.
William Poundstone discusses charm prices and the mysterious allure of 99 cents.
William Poundstone explains the psychological trick of anchoring and how it works on eBay.
William Poundstone explains the hidden psychology of restaurant menus.