1. On page 24, Ariely argues that "there was no market for Tahitian black pearls and little demand." What elements of a market were missing and how did "the pearl king" change that?
2. What is imprinting and anchor pricing? Can people grab onto a new anchor price?
3. What is herding behavior and how does it get people to keep paying higher prices at Starbucks?
4. How much money would you need to be paid to voluntarily listen to 30 seconds of screeching? Why was this a good experiment design for determining anchor prices?