Price depends on context

The London Paper reported today that the US star Moby only made £5 during 40 minutes of busking outside Slone Sq tube last night. Filmed as a stunt by BBC’s Culture Show, it highlights how context and setting massively influence price or more specifically perception of value.

Why pay more for the same beer in a plush wine bar than a local pub? Why did Moby get such measley tips when his concert tickets are probably £30 per seat?


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