Off DeWall: The Pain of Paying
Ever feel that it actually hurts to buy something? Maybe it was that pair of shoes you had to have that cost $500 but broke within three months? Or that $7 coffee beverage that your friends said was so great but you knew was overpriced? I experienced something akin to pain today, but it took an odd form.
Psychologists have been studying the pain of paying for over a decade. It’s based on the principle that it hurts more to make some purchases than others. The more a purchase hurts, the less people are willing to make it. After all, who wants to experience pain, no matter how much you think you want something?