January 30th 2010
Priceless. The myth of fair value (and how to take advantage of it). William Poundstone. 2010 ISBN 9780809094691. A fascinating, useful and well written book. This author is an expert in this area. If you have ever bought a car, negotiated with your child or been to an auction, the author is talking directly to you. The field is called psycophysics and Poundstone brings it to life. After you read this you will understand how anchoring your sell with a very high price is better for getting the highest price, why he who sets his price first has the advantage, how web pages are using background images to prime readers to make decisions and where union negotiators have a winning plan regardless of the outcome. Ever wonder how the Sierra Club negotiates and will always come out ahead of the resource companies? He tells you why you ignore what clients say they want and watch what they do. This is a must read for the CEO, CFO, CMO and every consumer.
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