Monday, March 10, 2008

You get what you pay for, even in placebos

A 10-cent pill doesn't kill pain as well as a $2.50 pill, even when they are identical placebos, according to a provocative study by Dan Ariely, a behavioral economist at Duke University.

People expect to pay for worthwhile medicine. And...since it works in medicine...it probably applies to conservation or any other problem-solving activity. OK, so everyone needs to send me money and then my work will seem more valuable?! Please email me and I'll let you know where to send cash, checks, and negotiable securities.

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