In his book 📝Predictably Irrational, behavioral economist 📝Dan Ariely ran an experiment. He offered subjects a choice: a Hershey’s Kiss for $0.01, or a higher-quality Lindt truffle for $0.15.
Ariely found that 73% of people chose the pricier Lindt. But, when he changed the price of the Hershey’s Kiss from $0.01 to free, 69% opted for the Kiss.
The introduction of that one word—free—entirely reversed the outcome of the study.
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