

The Fallacy of Supply and Demand
Following are a few more nuggets from Dan Ariely’s excellent book on buying behavior, “Predictably Irrational”: The first price that people hear for a product or service is likely to become an anchor – they will strongly associate the value of the product or service with that price – no matter how the price fluctuates in the future. Everything becomes relative to that first price. We assume something is good or bad based on the behavior of others. Is “everyone” buying someth




















