New ways of thinking about strategic pricing can positively impact many pressing social issues. One pricing challenge that almost everyone encounters – the fair value of work – plays a prominent role in the research of Claudia Goldin, who won the 2023 Nobel Prize in economic science today. Today’s newsletter looks at Goldin’s work from the perspective of pricing. In this edition, Arnab Sinha and I also explore the Choice Game — where companies build and maintain a coherent, carefully curated lineup of offerings designed to serve different customer segments defined by their needs and value perceptions. We outline how successful players of the Choice Game rely on behavioral economics to help their customers self-select from a well-structured line-up of offerings. Read our latest edition of The Game Changer Newsletter to uncover three behavioral effects that play a prominent role in designing and pricing a portfolio in the Choice Game.
Exploring the fair value of work
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