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guarantees

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    Market Signals Entry #0401

    Why a costly gesture carries information a cheap one cannot

    A claim anyone could make carries no information. A gesture that would hurt to fake carries some, which is why expense so often stands in for proof.

    Novice
    The hidden part #0401

    Information travels on cost. A signal that is cheap for a liar tells you nothing at all.

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    Price Psychology Entry #0372

    The reason a refund policy is a pricing decision

    A guarantee removes the risk of being wrong, and buyers pay for that separately from the product. The policy is part of the number.

    Adept
    The hidden part #0372

    A guarantee sells an option to undo, and the buyer pays for it inside the price. Tightening it removes revenue that nobody logged as revenue.

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