Consumers & Companies

Humans tend to overemphasize the positive elements of a product and ignore the downsides. For example, consumers wait overnight for new releases of certain products, even though other brands have better features and are cheaper.

One reason is that people v...

Prices do more than reflect value; they allocate resources:

• High demand + limited supply: Prices rise to ration goods.
• Perceived unfairness: Consumers may see this as exploitation.
• Efficiency vs. equity: Balancing f...

If you double your prices, and lose less than half your customers, its probably a good move. Pricing power is your ability to raise the prices you are charging over time. It is related to "price elasticity" in economics.

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