Not very gadgety, but something that touches the lives of many, if not most. people…
The New York Times has an interesting article that describes the serious game played by buyers and sellers of real estate in arriving at a mutually acceptable price. Sellers are often disadvantaged by asking too high a price and buyers are challenged on how to interpret the message conveyed by the price and the seller’s intentions.
…while the the classic supply and demand model is undoubtedly the correct way to understand the interaction of buyer and seller, it’s more than somewhat reminiscent of the predator-prey dynamic.
The Psychology of Pricing – New York Times, February 18 2007
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