Word: deal
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Dates: during 2000-2009
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...drugs had been bought at discount, they were actually less effective. That's kind of terrifying. The response to a discount is profound in the human brain. What is less profound is the response to actually owning that object once you get the discount. We strive to get that deal, but we tend to devalue the object after we purchase it. For many things, the biggest charge we get is that transaction itself. Retailers and marketers strive to make us think we are scoring good deals. They make you think that you're special because you've been able...
...That was another thing you discuss in the book: unrealistically high reference prices. They'll put this price tag on an item that's ridiculous for what its actually worth to make you think you've gotten a good deal when it's marked down. No one ever pays full price for a mattress. There's actually been a lot of litigation around mattress prices because they set those reference prices very high to make you think that you're getting a good deal. In fact, often a department store will put one mattress on so-called "sale" and raise...
...object, whatever it is, if it seems to suit you or fit your needs and appears to be good quality or good value for price, then go ahead and buy it. But don't buy it because you're motivated by the brand and think your getting a good deal...
...that oil companies lower their profit expectations, offering to pay them $2 for every barrel pumped in Iraq rather than the $4-a-barrel rate sought by oil executives. Chevron, which had negotiated for a year to develop Iraq's second-biggest field, West Qurna, pulled out of the deal on Tuesday, saying it had not met the company's "standard investment criteria." French giant Total and Spain's Repsol also withdrew after failing to secure a better deal from the Iraqis, leaving Baghdad high and dry. "[The Iraqis] approached this auction with a bit of arrogance," Younsi says. "They...
...rights to develop its massive energy reserves. In a day-long auction of eight huge oil fields - some of the world's biggest - virtually all the 41 foreign companies invited to bid by the Iraqi government balked at the Baghdad terms. The only contract signed was a 20-year deal for a consortium led by BP and China's National Petroleum Corporation to develop the giant Rumaila field in southern Iraq. "Frankly I did not think it would be such a fiasco and embarrassment for the government," says Rochdi Younsi, Director of Middle East and Africa for the Eurasia Group...