# Ideas Worth Sharing



## m3s (Apr 3, 2010)

TED is probably the best thing on the internet. This is far from the best TED video, and he doesn't really make any point until the final line, but it is relevant to the forum

The Price of Happiness

The placebo effect is quite powerful. I think most drugs for psychological treatments are likely more placebos than anything. Sadly drugs are the only treatment nowaday when something less profitable would work better

I think quality is well worth paying for if you enjoy it, but "you get what you pay for" is really not the case at all in the age of marketing


----------



## carverman (Nov 8, 2010)

mode3sour said:


> TED is probably the best thing on the internet. This is far from the best TED video, and he doesn't really make any point until the final line, but it is relevant to the forum
> 
> I think quality is well worth paying for if you enjoy it, but "you get what you pay for" is really not the case at all in the age of marketing


It's all hype my friend. A 1787 bottle of Chateau Lafitte for 105,000 pounds sterling, thats what around $164,466.74 CDN? 
Ridiculous! Just goes to show how self indulgent most people are on this planet. Just like the art going for millions because it was done by some dead painter in the last century...or even the Voice of Fire that the National Gallery paid over 2 million for in the late 80s, stupid exists on all levels of human civilization.

Now imagine if that son of the richest man opens the bottle some day and
finds it is spoiled and not drinkable...all he has is the bottle for his
$105,000 pounds *sterling* Is it worth it? ..only if you got so much disposable income that you don't know what to do with it.


----------



## Spidey (May 11, 2009)

I know that when I pay more my expectations go up. My favorite restaurant is a quaint little place where the average priced dish is around $17. I use this food as a yard stick when I'm at a more fancy and expensive place and I always end up disappointed. I think there are a lot of cases of the "emperor having no clothes".


----------



## andrewf (Mar 1, 2010)

My head is spinning. What dimension is dollar pounds?


----------



## brad (May 22, 2009)

andrewf said:


> My head is spinning. What dimension is dollar pounds?


Haha! 

I think he was trying to say that £105,000 = $230,000 but somehow "pounds Sterling" got translated to lbs.

This even gets confusing in French because "une livre" is a pound, but "un livre" is a book, and I've had a few quizzical looks from merchants when I accidentally asked for a book of shrimp.


----------



## m3s (Apr 3, 2010)

brad said:


> This even gets confusing in French because "une livre" is a pound, but "un livre" is a book, and I've had a few quizzical looks from merchants when I accidentally asked for a book of shrimp.


Haha I know that look I accidentally asked for "Dix pièces" referring to sliced meat. When she confirmed I held up 10 fingers "Oui dix pièces svp" I had to stop her when I realized she was slicing $10 worth of ham


----------



## KaeJS (Sep 28, 2010)

Thanks for sharing that, mode3sour.

I watched the entire thing, it was quite interesting.

Certain things are understandable. I mean, thats a pretty sweet toilet and its only $6k. But really, who's going to spend $30k on a single hotel room for one night.... Thats $1.44/second assuming you own the room for a 24 hour period (which is never the case) so its more like $2/second. wow.


----------



## Plugging Along (Jan 3, 2011)

I don't think it's anything new. Its all about marginal utility and diminishing returns, and the idea of elitism. People who buy something a 1000x the regular price don't necessarily think its a 1000X better in quality or happiness. Often, it's just a 1000X more exclusive therefore it's 'better' in that way, in terms of what it represents. 

I have sampled Kobe Wagu beef, and some of the other items listed. Where they really good... yes! Was the $300 Kobe 5X better than the $60 regular steak (on the same menu). I don't think so, we could taste the difference, but I wouldn't have paid for it myself. I do get to say that I have had it though. 

They've had many studies that have shown how they take the same item in a restaurant, put a fancy name and description on it, along with a higher price point. The same recipe and chef cooked it, yet the more expensive priced one was rated as better. They actually have done the same with wine, and found that to sell more wine, they will take a bottle and increase the price. Some of the less expensive wines are marked up higher, to get a better margin, and to also sell more. The ones that they can't get as high of a mark up, they will price point it lower. 

I know I can tell the different between a $8 wine, and a $20 wine is much better, I still find that a $50 wine can be amazing, a $250 wine is on slightly better than the $50. Often people who buy these items can afford it (hopefully), and want to show that they can afford it.


----------



## Dmoney (Apr 28, 2011)

Very interesting video. Reminds me of the study conducted that determined that the optimal salary for happiness is 75K a year.

Tried to find the study or a link to it, but could only find it through a pay site. Would be very curious to read the methodology of that study.


----------



## Helianthus (Oct 19, 2010)

Great video...thanks for posting.


----------



## KaeJS (Sep 28, 2010)

Dmoney said:


> Very interesting video. Reminds me of the study conducted that determined that the optimal salary for happiness is 75K a year.
> 
> Tried to find the study or a link to it, but could only find it through a pay site. Would be very curious to read the methodology of that study.


The article did not say 75K was the "optimal" salary for happiness. It said that salaries _over_ 75K had a negligible impact on increased happiness.

The article stated that the more money a person makes, the happier they are up to a 75K salary, in which case happiness basically flatlines.

Maybe that's why I'm so unhappy...


----------



## Dmoney (Apr 28, 2011)

You don't by any chance know where I can read the full article?

Does it mention money vs. time in relation to happiness?


----------

