In a 'Hershey’s Kiss' experiment conducted by Dan Ariely, researchers sold Lindt Truffles for 26 cents and Hershey’s Kisses for 1 cent, resulting in equal sales for both. When the price of each candy was reduced by 1 cent, 90% of people chose the free Hershey’s Kiss, illustrating what Ariely calls the 'power of free' in driving irrational behavior.

Authors

• Person: Not available Organization: American Marketing Association
  Read This Story to Learn How Behavioral Economics Can Improve ...

Sources

• Read This Story to Learn How Behavioral Economics Can Improve ... www.ama.org American Marketing Association via serper

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• Dan Ariely entity