Latest / Behavioral Economics with Fexingo: Decision Making, Bias, and How People Really Spend
Why Your Brain Treats a Pricey Watch as a Bargain
In this episode of Behavioral Economics with Fexingo, Lucas and Luna explore the psychology of luxury pricing and why a $10,000 watch can feel like a steal. They dive into the concept of price anchoring, the role of status signaling, and how brands like Rolex have mastered the art of making high prices seem reasonable. The hosts break down the 'expensive equals better' heuristic, the decoy effect, and how scarcity marketing amplifies perceived value. They also touch on the Veblen effect and why some consumers actually prefer higher prices. With real-world examples like luxury car…
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