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Written the book on this. it's called the invisible game the secrets and the science of winning minds and winning deals. kai—markus mueller, a real pleasure having you on this show. and kai, let's start with this. what are some of the tips and tricks that retailers use? well, there is a wealth of them in consumer psychology. but i'll tell you a few of them. a very, very, very strong component is, for example, the default effect. so, for example, if you have a subscription, it renews by default and we have trouble thinking about the renewal, wejust let it go. then there are things like red si...

That is a big issue. everybody who sells is very, very nervous about prices. indeed, i ran brain scan studies where i could show that the consumer willingness to pay is in some cases, significantly higher than the value perception of the person who sells. that means there is a strong hurdle and and lots of pain on the seller side, which is completely unnecessary. kai—markus mueller, an absolute pleasure having you on the show. thanks so much for your time and i'll talk to you soon. thank you for having me. well, you know, in the end, it's the price in the shops that customers really care abo...

Expensive food habits. well, on that point, kona lasker haque, my friend. a real pleasure having you on the show, as always, and, kona, i'll talk to you soon. thank you so much. so there you go, that's the start of how prices get set. but how much does psychology play in the price that we pay for our shopping? well, my next guest has literally written the book on this. it's called the invisible game the secrets and the science of winning minds and winning deals. kai—markus mueller, a real pleasure having you on this show. what are some of the tips and tricks that retailers use? well, there i...

Kai, are retailers, are they nervous about raising prices? oh, yes. that is a big issue. everybody who sells is very, very nervous about prices. indeed, i ran brain scan studies where i could show that the consumer willingness to pay is in some cases, significantly higher than the value perception of the person who sells. that means there is a strong hurdle and and lots of pain on the seller side, which is completely unnecessary. kai—markus mueller, an absolute pleasure having you on the show. thanks so much for your time and i'll talk to you soon. thank you for having me. well, you know, in...

Lasker haque can tell us where the markets think prices of raw materials are heading. kai—markus mueller, who's the neuroscientist who gives us the psychology behind the way shops set their prices. and christel delberghe, she's the boss of eurocommerce, which represents the big retailers in some 27 countries across europe. also on the show, from the coffee field to your daily mug ofjoe, i've got antonio baravalle, the big boss of the coffee giant lavazza, to talk to us about pricing from bean to cup. wherever you'rejoining me from around the world, once again, a big hello and a very warm