Neuroeconomics is confirming what a lot of market researchers knew already: that people associate a higher price with higher quality, even if two products are identical in all other regards. Today's Sunday Times carries a fascinating article on how price influences our brains.
It also shows that not everyone is a spendthrift, citing US research:
In a study of 13,000 people it emerged that 15% were spendthrifts to whom spending gave pleasure and 25% were tight-wads to whom it gave pain, and the remaining 60% fell in between the two.
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