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Comment by anaolykarpov

There was a MOOC on Coursera called "Irrational Behaviour" and one of the stories there is about a locksmith who in the beginning of his career used to fix a door lock in more than an hour, with lots of effort and almost always destroying the door. His clients were happy to pay him the 70 dollars he charged for the operation and also tipped him most of the time. As time went by and his experience increased he got to a point where he was fixing the door locks in 10 or 15 minutes with virtually no disturbances for the customers. His tips started to fade off and his customers became outraged at his 70$ charged for those 10 mins of work.

Conclusion: we don't want to pay related to the value we receive for a certain service, but to the amount of effort involved in the delivery of that service.

parent anaolykarpov 11 years ago

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