Josh Zumbrun
speaker
325 appearances
5 recordings
1 series
first heard Dec 2018
last heard Oct 2023
Josh Zumbrun’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Consumers Hate Fees, But Are Willing to Pay Them Anyway · 27 Jun 2023
podcast
And I've decided I really want this concert ticket.
I've decided I really want to order this item, whatever it may be.
And they're not willing to stop and start over and go back and check if other places actually have better rates.
And so there's two problems that come because people don't restart the search.
One is that they don't go out there and identify the better price.
Two is that companies don't get penalized
for having done a huge amount of drip pricing.
If consumers would get to the end of the process and reject it, that would start showing up in companies' data and they would say, hey, this is a practice that isn't working.
But that's not what companies see.
They don't see people rejecting drip pricing in large numbers.
And in fact, they see people rejecting transparent pricing in large numbers.
And so it makes it very, very difficult for companies to offer people the transparent pricing that they think they want.
People are pricing things for a lot of different reasons.
They're trying to get your attention.
You know, they're trying to promote a sale or whatever.
But the effect that ends up being the most significant is that whenever retailers raise a price, they're much more likely to put it in a 99 cent ending to soften the blow.
Thanks so much for having me.
Well, I mean, there's two things that are going on here.
One is that people just kind of read numbers left to right.
And so even though it's such an obvious trick, people really do fall for it.
Showing 121–140 of 325 · page 7 of 17
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