Why paying a good locksmith hurts

Legend has it that Picasso was once sitting in a Paris café when an admirer approached and asked if he would do a quick sketch on a paper napkin. Picasso politely agreed, swiftly executed the work, then demanded a big sum of money before returning the napkin. The admirer was shocked: “How can you ask for so much? It took you a minute to draw this!” “No,” Picasso replied, “It took me 40 years.”

Here’s a current and more sympathetic version, with mechanical skill in place of artistic. Behavioral economist Dan Arieli met a locksmith who, as he gets quicker and more proficient at his profession, has a harder time getting paid for it:

Arieli concludes:

What this tells is that consumers don’t value goods and services solely by their utility – the benefit from the service – but also a sense of fairness relating to how much effort was exerted.

The most skilled practitioners make it look easy, which makes it harder for them to be paid their due.

More on Dan Arieli: His blog, his bio, his experience as a burn patient (.pdf) and his fascinating books.