If all good things are expensive then… All expensive things are good?
Obviously not right? But yet… it’s a common fallacy, especially if we don’t know much about the product.
I was reading up about this…
why people like to spend money on expensive things and believe that expensive things are good.
The answer is a mix of psychology and stupidity.
I’ll copy and paste some stuff off the internet cos if I just post the link some people won’t bother to click it.
(Cos usually I won’t, I’ll prefer the text to be in the page I’m in.)
All emphasis my own.
Daniel Goldman, Established a theory of the technosphere.
Answered Sep 12, 2015
There are a few reasons, and they relate to economics, poor use of logical reasoning, and psychology.
In general, quality does result in an increased price. Why? Because it generally takes more resources to make a quality product and because there are usually …