If it isn't too late already then you can get better results from your Christmas giving by not mixing cheap gifts with expensive gifts.
The paper, which will be published in an upcoming issue of the Journal of Consumer Research, found that consumers don't like packages that pair something expensive with something cheap. Think of the Dutch oven and the mitt. Or an iPod that comes with a single free song. To a consumer, the add-ons aren't a nice bonus. Instead, they devalue the entire deal.
Read Jordan Weissman's whole piece at The Atlantic for the explanation why.
An interesting thing to keep in mind when evaluating stuff to buy, accomplishments of others, and other stuff: Don't let the presence of something cheap cause you to undervalue something expensive. The human mind has many built in biases to reasoning that make us evaluate people, goods, and services incorrectly.
|Share |||Randall Parker, 2011 December 17 09:15 PM Brain Economics|