Haggling lessons from a Turkish bazaar

by Mick Weinstein|Published March 3, 2011

Have you ever been in a buying situation where you think in principle the merchant should be wide open to haggling, but then they pull out some piece of Objective Information (eg. a nicely formatted and laminated price sheet) that has the effect of anchoring the price in their favor? Check out Dan Ariely‘s experience in Instanbul’s Grand Bazaar. Best moment is when Ariely takes the calculator back from the merchant and does his own formula.

AUTHOR

Mick Weinstein

Mick is the Head of Editorial for Covestor, a financial journalist and online content specialist. Prior to joining Covestor, Mick was for five years the Editor in Chief and VP Content at stock market analysis website Seeking Alpha, where he built the editorial function as the site attracted over 3.5 million unique monthly visitors and developed an innovative platform for intelligent stock market discussion. Mick is a graduate of the University of Michigan, Ann Arbor.

380 posts