Eric Dolansky - The psychology of spending

Real Money Talk - A fresh take on personal finance

English - May 29, 2020 03:17 - 48 minutes - 66.1 MB
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Our guest on the show today is Eric Dolansky. Eric received his PhD and MBA from the Richard Ivey Business School at Western University. He’s now a professor at the Goodman school of Business at Brock University. His main area of research is in studying pricing and price perception, consumer estimations of value, consumer behaviour and behavioural economics.

We asked him why we hoard toilet paper, why Pusateri's can charge $30 for a container of lysol wipes, and why we'll pay the price.

We ask what effects COVID-19 is having and will have on consumer behaviour going forward. Will we online grocery shop forever?

How do companies price products? We do a case study on the UP Express debacle in Toronto.

Perceptions change our behaviours which changes our expectations. Food tastes better if we spend more money on it.