Claire Wang

The history of our earth is so different from what we can imagine.

This backdrop is just pregnant with all kinds of meaning associated with this Mount Hermon event.

Because this is our final segment with Claire, we went out with a little game, true or false or both, on the psychology of pricing, starting with wine.

Because, of course, we did.

People are more likely to buy a product priced at $9.99 than $10, even though the difference is one cent.

A higher price always means higher quality.

If two identical wines are priced differently, people often rate the more expensive one as tasting better.

Limited time offers are usually based on real scarcity.

Discounts make people feel like they're saving money, even if the original price was inflated.

Most consumers make fully rational, logical buying decisions.

False.

Is that a big false or just a little false?

I don't think there's any gradients on that, but free shipping can increase sales more than lowering the product price.

I would agree with that, yeah.

Seeing a higher priced option first can make the next option feel like a better deal.

Price has no effect on how your brain experiences taste.

You said that one in the Stanford theory in that test.

Businesses spend a lot of time on pricing strategy than most customers really realize.

Awesome.

You really came through on this.