The Price is Wrong: Understanding What Makes a Price Seem Fair and the True Cost of Unfair Pricing

Foreword ix

Acknowledgments xiii

About the Author xv

Part I: Background

Chapter 1: Introduction: "Play fair or I quit!" 3

Chapter 2: History: "A ‘just' price is not God-given!" 13

Part II: Model

Chapter 3: Model: "Now I'm not just annoyed, I'm furious!" 23

Chapter 4: Norms: "That's wrong, and we all know it!" 31

Chapter 5: Emotions: "You're not being fair and I hate you!" 41

Chapter 6: Expectations: "That price is a rip-off!" 47

Chapter 7: Outcomes: "You should get what you pay for!" 55

Chapter 8: Attributions: "The seller is to blame!" 65

Chapter 9: Process: "Ya gotta play by the rules!" 73

Chapter 10: Punishment: "Revenge is sweet!" 85

Chapter 11: Power: "Beware a customer wronged!" 93

Chapter 12: Trust: "Fair price? I doubt it!" 101

Part III: Applications

Chapter 13: Modifications: "Sorry! The rules have changed!" 111

Chapter 14: Tipping: "Just don't stiff the waiter!" 119

Chapter 15: Discrimination: "It's unfair to charge me more than others!" 125

Chapter 16: Negotiations: "Split the difference. That's fair!" 133

Chapter 17: Taxes: "Paying taxes is as American as disliking taxes" 145

Chapter 18: Culture: "But I never ordered any bread!" 155

Chapter 19: Practices: "So how is a company supposed to price fairly?" 165

Notes 179

Glossary 205

References 213

Index 233