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price-perception

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    Cognitive Bias Entry #1107

    Why a cheap wine tastes better when you are told the price

    Expectation assimilation means a stated price changes the pleasure you actually taste, not just the words you use to describe the wine afterwards.

    Novice
    The hidden part #1107

    You do not taste the wine and then the price; the price is already in the glass.

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    Priming & Exposure Entry #0737

    The reason handcrafted on a label primes you to forgive the cost

    The word “handcrafted” on a label primes an effort heuristic that makes the buyer attribute higher value to the product, reframing a steep price as fair for the labour.

    Adept
    The hidden part #0737

    One word on a jar tells a story of effort the buyer never witnesses but always believes. The price rises; the doubt does not.

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