I'm currently reading Dan Ariely's book, Predictably Irrational. In it, he talks about one study he did that speaks to this question -- here's the abstract: The authors demonstrate that marketing actions, such as pricing, can alter the actual efficacy of products to which they are applied. These placebo effects stem from activation of expectancies about the efficacy of the product, a process that appears not to be conscious. In three experiments, the authors show that consumers who pay a discounted price for a product (e.g., an energy drink thought to increase mental acuity) may derive less actual benefit from consuming this product (e.g., they are able to solve fewer puzzles) than consumers who purchase and consume the exact same product but pay its regular price. The studies consistently support the role of expectancies in mediating this placebo effect. The authors conclude with a discussion of theoretical, managerial, and public policy implications of the findings. The full article can be found here: http://www.predictablyirrational.com/pdfs/Placebo1.pdf
Unrelated, but fascinating, check out this one: http://www.predictablyirrational.com/pdfs/Heat_of_Moment.pdf -- Sue Frantz Highline Community College Psychology Des Moines, WA 206.878.3710 x3404 [EMAIL PROTECTED] http://flightline.highline.edu/sfrantz/ -- APA Division 2: Society for the Teaching of Psychology http://teachpsych.org/ Office of Teaching Resources in Psychology Associate Director Project Syllabus http://teachpsych.org/otrp/syllabi/syllabi.php From: Jean-Marc Perreault Sent: Tue 4/29/2008 2:28 PM To: Teaching in the Psychological Sciences (TIPS) Subject: [tips] Do we prefer more expensive items? In a recent conversation with a colleague on tuition fees, I raised the question of whether our local population would have a better impression of their local community college if the tuition fees were higher. This comment was made in part because we offer the lowest (or near that) fees in the country. A 3-credit course tuition is 150$. The local population has often been perceived (non-objectively I should say) as being negatively biased towards the College. So I raised the tuition question. I seem to remember a study where a psychiatrist had changed location from a prestigious office to a more modest locale, and had also raised his fees, with the result of losing credibility/clients/etc (not sure what the actual measure was, but it seems to be in those lines). Does anyone know of research in that area? That would be much appreciated... and please keep in mind that this information WILL NOT be used to raise tuition fees. The College does not have the power to do that anyhow... The government has that power... Cheers! Jean-Marc --- To make changes to your subscription contact: Bill Southerly ([EMAIL PROTECTED]) --- To make changes to your subscription contact: Bill Southerly ([EMAIL PROTECTED])
