Discuss the Thaler wine problem with your group, and summarize the discussion and any conclusions in a few sentences here. “Suppose you bought a case of a good 1982 Bordeaux for $20 a bottle. The wine now sells at auction for about $75 a bottle. You have decided to drink a bottle. Which of the following best captures your feeling of the cost to you of drinking this bottle?” (Thaler, 1999)
Discuss the Thaler wine problem with your group, and summarize the discussion and any conclusions in a few sentences here. “Suppose you bought a case of a good 1982 Bordeaux for $20 a bottle. The wine now sells at auction for about $75 a bottle. You have decided to drink a bottle. Which of the following best captures your feeling of the cost to you of drinking this bottle?” (Thaler, 1999)
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Question
Discuss the Thaler wine problem with your group, and summarize the discussion and any conclusions in a few sentences here.
“Suppose you bought a case of a good 1982 Bordeaux for $20 a bottle. The wine now sells at auction for about $75 a bottle. You have decided to drink a bottle. Which of the following best captures your feeling of the cost to you of drinking this bottle?” (Thaler, 1999)
$0
$20
$20 plus interest
$75
-$55 (negative $55 cost)
Or something else?
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