Chomas Arnold

“Is there a difference in the amount donated—based on the "suggested donation" you list? Desmet (1999 ["Asking for Less to Obtain More." Journal of Marketing Research, 29(4), 430–440.]) found it depends on which suggestions you manipulate. Suppose you have the following "suggested donations":
•$15
•$30
•$50
•$75
•$100

Desmet's research suggests that changing the $30, $50, or $75 will have little effect, but raising the top or the bottom number will have significant results.

In his research, raising the top number led to overall larger donations. Strangely, raising the bottom number led to significantly lower response rates. Why would raising the $15 cause fewer people to donate? The dropoff came from previous donors who had contributed a small amount. Desmet cites an "aversion to the extremes," whereby donors do not want to contribute the smallest or the largest amount on the list.

So adding a $125 choice would increase the number of people who donate $100. But if the lowest number shown becomes $30, then people who donated $30 before would now be donating the lowest amount listed—which they don't want to do. Instead, some of them may choose not to donate.”
― Marlene Jensen, Setting Profitable Prices: A Step-By-Step Guide to Pricing Strategy Without Hiring a Consultant

“How is a magician to exist without books? Let someone explain that to me. It is like asking a politician to achieve high office without the benefit of bribes or patronage.”
― Susanna Clarke, Jonathan Strange & Mr Norrell

“And allow me again to assure you that when you've got yourself going, doing your True Will, you won't find you have any time to get bored.”
― Aleister Crowley, Diary of a Drug Fiend

“Auctions are a venerable selling institution, in use since the time of Herodotus. The word comes from the Latin auctus, meaning to increase. An obscure term for auction, one guaranteed to impress friends and neighbors, is the Latin word subhastare. It is the conjunction of sub, meaning "under," and hasta, meaning "spear." After a military victory, a Roman soldier would plant his spear in the ground to mark the location of his spoils. Later, he would put these goods up for sale by auction.
¹The highest bidder was called the emptor, whence the term caveat emptor.”
― Rakesh V. Vohra, Principles of Pricing: An Analytical Approach