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Book Description

ISBN-0470139099

The subject of price fairness is one that affects us all, whether we’re consumers or merchants.

And while concerns about fair pricing are constantly being voiced, this topic has not been explored as thoroughly as you might think.

Author Sarah Maxwell is a pioneer in the field of fair pricing. Throughout her career, she has seen how pricing practices—across a variety of different areas, from mobile phones and airline tickets to prescription drugs and gasoline—impact our everyday lives.

Now, with The Price Is Wrong, Maxwell shares her deepest insights on this issue and examines both the psychological and sociological basis of fair pricing.

Written in a straightforward and accessible style, this book puts fair pricing into perspective by integrating the author’s own research with examples of right and wrong pricing, reports from reliable resources, and the contributions of those who have experienced the true cost of unfair pricing firsthand.

Divided into three comprehensive parts, The Price Is Wrong opens with a brief background discussion of this important issue. It quickly moves on to outline a model that explains how personal and social fairness can lead to escalating emotions within consumers.

Each element of this model is skillfully illustrated, so you’ll become familiar with how judgments of price fairness can increase consumer trust, as well as destroy it—if sellers decide to abuse their power. In the final section, Maxwell reveals how you can effectively apply this model to real-world situations of price fairness such as tipping, negotiations, price discrimination, taxes, and much more.

A fair price is one that is emotionally okay. It is acceptable and just. It has passed the test of personal and social fairness by adhering to the social norms. But when the norms are violated and the price is judged personally and socially unfair, something must be done.

With The Price Is Wrong as your guide, you’ll come to grips with the slippery idea of price fairness and be in a better position to make more informed decisions when faced with the pricing challenges that are a part of both everyday business and life.

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