The case for “over-priced” medicines

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Sugar pills that cost more are more effective at relieving pain than lower-priced sugar pills.

I wonder if this phenomenon applies to other goods, such as books that are available for free online or for cash in a brick-and-mortar. Perhaps, people have a subjective value scale that can not be predicted with number-crunching.

10:05 am on March 6, 2008