BizBasics: "Weber-Fechner Law of Pricing" with Ron Wilcox

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  • Опубликовано: 10 дек 2024

Комментарии • 11

  • @sahand9238
    @sahand9238 2 года назад +1

    Very clear explanation with relevant real world examples. Thank you !

  • @stevebrodnik2775
    @stevebrodnik2775 3 года назад +2

    Yes but I buy Shirts and Burgers much more often than a car, so it adds up differently. Basically it's about the relative % percentage of price - reduction of the products I buy, I think.

  • @camilopacheco6448
    @camilopacheco6448 3 года назад +9

    The law was invented by Ernst Heinrich Weber, not Max Weber...

    • @Rockpodoboo
      @Rockpodoboo Год назад +1

      1:40 plus Max Weber wasn't a psychologist, he was a sociologist...

  • @harveerbrar6298
    @harveerbrar6298 11 месяцев назад

    Superb

  • @andreasdekrout5209
    @andreasdekrout5209 2 года назад

    Protip: if you ponder complimenting your wife, do it.
    Maybe later on she'll be pondering about ways to return the gesture...
    Apart from that you seem the logarithmic nature of the underlying question.
    A dollar saved on something you buy every week is not equal to a dollar saved on something you buy every 5 years.
    It is about the relation between price and price delta (aka the discount).
    Don't ask, how many dollars you can save, ask for how many percent you can save. ;)

  • @nathaliebrunettemba2143
    @nathaliebrunettemba2143 3 года назад +1

    This law is from

  • @Chad-s6r
    @Chad-s6r Месяц назад

    *Vaber

  • @vinialvesx
    @vinialvesx 2 месяца назад

    The researching for this was awful huh