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As a personal anecdote: when I eventually stopped growing taller (~19), I started purchasing clothing and outdoor gear that was a step up from the quality of wh

As a personal anecdote: when I eventually stopped growing taller (~19), I started purchasing clothing and outdoor gear that was a step up from the quality of when I knew that I'd grow out of things. While not universal, I did notice a definite uptick in the durability and comfort of most things. It's obviously possible that this was a placebo effect or maybe I'm nicer to my gear now, but I've certainly been getting more out of the expensive things.

latch 14y ago
The placebo effect appears to be massive, at least where it's been studied (wine, for example). I'm happy to admit that, as a general rule (coughjaguarcough), higher prices indicate better quality, I just don't think it translates into better value (again, as a general rule). Sure, highly functional things, like shoes and a bed, probably warrant paying more even though the value isn't proportional. Paying 50% more for shoes that you wear 8 hours a day which are 25% better (comfort, health, style) makes sense to me. But jeans, kitchenware, cars, medicine, food, electronics..the list goes on and on where I feel that, again, in general, cheaper is better. As studies have shown, money should be spent on buying experiences...not things. It's the trip to Spain that'll make you happy, not the $1500 DSLR camera that you use to take pictures while you are there.
- Evbn 14y ago
  For many people, taking nice photos is how they stay happy when dragged along expensive unpleasant adventures by friends and family.
- pbreit 14y ago
  Totally disagree about "jeans, kitchenware, cars, food, electronics". All of those benefit greatly by quality (and thus cost). Medecine is a special case since so much cost goes into development (sorry, I don't believe you on the bulk of it being marketing).
  - latch 14y ago
    Apologies, as seen by GlaxoSmithKline's recent $3 billion fine for illegally bribing doctors, you are also paying their legal fees for unethical practices. (1) Also, the industry spends more on lobbying than any other industry (2) According to a study by York University, they spend twice as much on marketing as R&D (3). (1) http://www.guardian.co.uk/business/2012/jul/03/glaxosmithkline-fined-bribing-doctors-pharmaceuticals?newsfeed=true http://www.guardian.co.uk/business/2012/jul/03/glaxosmithkli... (2) http://www.usatoday.com/news/washington/2007-05-10-senators-drug-bill_N.htm http://www.usatoday.com/news/washington/2007-05-10-senators-... (3) http://www.sciencedaily.com/releases/2008/01/080105140107.htm http://www.sciencedaily.com/releases/2008/01/080105140107.ht...
    - pbreit 14y ago
      I was replying to this "R&D costs are 1/100th of total cost, with marketing taking the lion's share" which I do believe is inaccurate.
- greedo 14y ago
  A trip to Spain is 50 hours or so of my life. Driving a cheap car easily exceeds 400 hours a year, for around ten years. I'd rather have a comfortable, well made car to drive in than a once in a life time trip. YMMV.
- superuser2 14y ago
  I buy experiences by buying tools. Owning $800 of camera equipment doesn't make me happy, but using it does. Looking at my Macbook Air doesn't make me happy, but writing code on it does. A Jaguar doesn't get you to work any better, but as has been pointed out, driving even a BMW 330 is a hell of a lot of fun every day.

latch 14y ago

The placebo effect appears to be massive, at least where it's been studied (wine, for example). I'm happy to admit that, as a general rule (coughjaguarcough), higher prices indicate better quality, I just don't think it translates into better value (again, as a general rule). Sure, highly functional things, like shoes and a bed, probably warrant paying more even though the value isn't proportional. Paying 50% more for shoes that you wear 8 hours a day which are 25% better (comfort, health, style) makes sense to me. But jeans, kitchenware, cars, medicine, food, electronics..the list goes on and on where I feel that, again, in general, cheaper is better. As studies have shown, money should be spent on buying experiences...not things. It's the trip to Spain that'll make you happy, not the $1500 DSLR camera that you use to take pictures while you are there.

Evbn 14y ago
For many people, taking nice photos is how they stay happy when dragged along expensive unpleasant adventures by friends and family.
pbreit 14y ago
Totally disagree about "jeans, kitchenware, cars, food, electronics". All of those benefit greatly by quality (and thus cost). Medecine is a special case since so much cost goes into development (sorry, I don't believe you on the bulk of it being marketing).
- latch 14y ago
  Apologies, as seen by GlaxoSmithKline's recent $3 billion fine for illegally bribing doctors, you are also paying their legal fees for unethical practices. (1) Also, the industry spends more on lobbying than any other industry (2) According to a study by York University, they spend twice as much on marketing as R&D (3). (1) http://www.guardian.co.uk/business/2012/jul/03/glaxosmithkline-fined-bribing-doctors-pharmaceuticals?newsfeed=true http://www.guardian.co.uk/business/2012/jul/03/glaxosmithkli... (2) http://www.usatoday.com/news/washington/2007-05-10-senators-drug-bill_N.htm http://www.usatoday.com/news/washington/2007-05-10-senators-... (3) http://www.sciencedaily.com/releases/2008/01/080105140107.htm http://www.sciencedaily.com/releases/2008/01/080105140107.ht...
  - pbreit 14y ago
    I was replying to this "R&D costs are 1/100th of total cost, with marketing taking the lion's share" which I do believe is inaccurate.
greedo 14y ago
A trip to Spain is 50 hours or so of my life. Driving a cheap car easily exceeds 400 hours a year, for around ten years. I'd rather have a comfortable, well made car to drive in than a once in a life time trip. YMMV.
superuser2 14y ago
I buy experiences by buying tools. Owning $800 of camera equipment doesn't make me happy, but using it does. Looking at my Macbook Air doesn't make me happy, but writing code on it does. A Jaguar doesn't get you to work any better, but as has been pointed out, driving even a BMW 330 is a hell of a lot of fun every day.