Why have contestants on “The Price is Right” become so much worse at guessing?
economist.com
economist.com
I wouldn't guess that memory is the issue so much as less exposure to this type of information in the first place. We no longer aimlessly browse stores checking everything out; now we just search for specific items, buy them, and move on.
I can probably recall the prices of things I've actually purchased about as well as past generations, but anything beyond that is basically a wild guess.
As someone who's been keto for just about my entire adult life, the humor of "I mean it's one banana Michael. What could it cost, $10?"[1] was almost lost on me.
Price is right products are paid placements that link into existing advertising campaigns. It wasn't random trivia -- the folks who watched the show and signed up to play the game watched TV! People knew what a 1986 Ford Festiva cost because... they saw the ads on TV. There was a sort of democracy of experience where we all saw the same ads.
Now, advertising is hyper-focused. I don't see ads for a set of pots and pans. I get ads for baseball gloves and Yubikey. My father in law gets ads for conservative political nonsense.
Or perhaps just as significantly: this information is now constantly in flux. No longer are prices set by hand. Everything (at Amazon and Walmart, at least) is priced by computers that are constantly trying to determine the ideal price that maximize profits. So who could “know” the price of anything if the number is always changing?
Store brand vs name brand being a reasonable example. The exact same product with two different names on it - two different prices by pretty wide margins in some cases. Heck even the same can of (product) at two different stores can very by quite a bit.
The cost of a piece of tech a wild from one to another while the guts are basically the same. Then consider that the physical item is being sold at-cost or close to it, but real revenue for the company is based on subscriptions or data + ads.
How could anyone look at a kitchen appliance and guess what the price is today? It seems every toaster is made in the same factory, slap a different brand sticker on it, enable an extra button (or disable it on a generic version), and boom that $20 toaster is $150.
Also, everything is always on sale. MSRP is a seemingly meaningless number in the face of endless rolling sales.
Do you have a source on this available? I ask due to some second hand retail experience with Wal-Mart specifically, that their pricing contracts lean heavily on pre-determined price points (under $20, etc).
These days, more and more stores have (often fairly arbitrary) discounts, which wasn't the case when TPIR was in its early heyday.
When I was a kid, Kraft Mac and Cheese was basically the only product of its type on the shelf. Now, I can count on basically any grocery store having a dozen or more varieties of the same thing.
https://carolynahyankee.files.wordpress.com/2013/02/mac-n-ch...
https://www.marketwatch.com/story/grocery-stores-carry-40000...
This actually became a minor issue in a 1992 presidential debate [1] when GHW Bush had no idea what a gallon of milk cost. But, again, why would he?
ADDED: Eggs are probably not the best example because if you ever eat eggs at a diner or whatever, that sort of gives you an upper bound on the cost. But pick random staples like flour and it gets harder to reason about the cost.
I don't know, I think eggs actually work well. The price of eggs can vary pretty wildly. One store near me sells eggs starting at $3.99 for half a dozen white ones, up to like $8.99 for a dozen free range organic ones and a bunch of prices in between for various quality eggs. Another store sells them starting at like $2.50 for a half dozen white ones and up to $5.99 for the free range organic ones, with all the prices in between being different to the first store. Then, there's the eggs you can buy at the weekly farmer's market, and near daily craft and other fairs where the prices vary drastically from one person's eggs to another. There's also at least 10 or more places between most of the communities here where people sell eggs from their home.
Diner eggs can vary pretty wildly in price too. You can get some pretty high quality eggs from cheap places and some really lousy expensive powdered scrambled eggs. You have no real idea the actual value to cost with diner eggs.
ETA: Prices are in Canadian dollars.
I am used to paying less than. 10 USD for an egg.
https://www.businessinsider.com/r-exclusive-wal-mart-launche...
When it comes to durable goods, I have no clue anymore. Put a 65" TV and I'd bomb it...somewhere between $400 and $1500?
that's actually not bad. I researched TVs recently, and an entry level 65" does cost about $400, while $1500 is upper mid-range. of course, it can be double that or more for a really good 65" oled.
if I had to price a specific model, I'd be in trouble.
Both! I see anywhere from $549 to $2200 on Amazon right now.
Durable items introduce enough randomness into games like The Price is Right, but laziness on the part of the producers (e.g. using the same 65" TV every show) negates it. Keen players that study for the show used to know what a Ford Escort cost as well as every add-on package. Then they would ask the host which packages are installed.
I do.. Most of those I remember are from the 80s and 90s though :D
But I do remember the phone number of my closest family still. I also remember my bank account numbers which is something many find strange!
Now if she ever gets her phone stolen she doesn't need to find a public library or borrow a laptop to contact me
So do I. Weird. The thing is, I have trouble remembering my own cell number, because I never dial it.
I'm sure that that's the goal as far as the seller is concerned - hope that buyers don't notice and purchase it. Yet another amazon scam
I don't have any of these assistants in my house for obvious reasons but this seems like the perfect way to scam someone.
https://www.npr.org/2018/07/27/633164558/slack-flickr-stewar...
https://www.bloomberg.com/news/articles/2019-09-30/everyone-...
Confusopoly (aka Dilbert's confusopoly) is confusing marketing designed to prevent the buyer making informed decisions.
(...) The term has been adopted by economists. Consumer Financial Protection Bureau director Richard Cordray, championing meaningful regulation for the financial industry, used the term confusopoly to refer to large financial institutions (Cordray 2014, 4'04"-4'26") :
"There's actually an economic term for this; it's called "Confusopoly." If [the sellers] can confuse the consumer enough then the consumers won't necessary know what choice they're making and they can be talked into just about anything." — Richard Cordray, 2014/01/08
https://news.ycombinator.com/item?id=20577142
Advertising is cancer on society. Very thoughtful points.
Like outside of a couple products I probabbly can't tell you what most groceries or consumer products cost. There's just so many to keep track of, and that's saying something as I shop / cook a great deal.
I seriously would dramatically under or overbid on a can of soup.
I heard the ending is worth it, though.
I suppose I would notice if the price was suddenly $5 for something that usually costs $1, but for many items I'm not even sure I would.
Try turning off javascript.
To be truly effective at these games, you needed to be watching what the accepted show price of items were...you never could assume your local store price or dealership price.
Seriously, don't trust Amazon with stuff you ingest. Not worth the danger.
https://www.esquire.com/news-politics/a7922/price-is-right-p... :
"Terry Kniess studied prices. He saw that virtually every prize on The Price Is Right, from a pack of gum to the flashiest car, repeated. He and Linda memorized their values the way Terry had learned to count cards. When they felt they were ready, they made their way to California.... "Actual retail price, $23,743," Carey said. "You got it right on the nose. You win both Showcases.""
"The producers no longer rely on Campbell's Cream of Mushroom soup; now they have different soups. They have different everything. They've built more luck into the games, dumb luck, and they've started doing sneaky things like changing the options on the cars — adding floor mats, taking away the stereo system — to mess with the prices. And they've started adding more luxury items, like Burberry coats, the sorts of things for which ordinary people who have lived their ordinary lives would never have clipped a coupon."
You can study for the Price is Right right now: https://quizlet.com/218097429/the-price-is-right-study-guide...
Though I don't vouch for how accurate that's going to be after the changes.
Based on what I could read of the article, and what other people are saying in response, I suspect the article is basically ruined by the fact that it was deliberately made harder. Of course after it was deliberately made harder, people did worse. There's not a lot of conclusions to be drawn from that data point, even trendy ones like "addiction to cell phones", which may ruin 90% of the people's memories but another fraction may be using their cell phones to run SRS programs to memorize everything. (You can waste a lot of time on cell phones, sure, but they can be powerfully turned to the light side if you take a bit of time to figure out how.)
Included but not limited to: New/repeat customer, country of connection, device used to connect, previous purchasing or even searching habits.
You can test this in the UK by searching for a holiday. Do it once on an android phone using your normal account and then do it again via a macbook as a guest of the site.
and from 2017: https://news.ycombinator.com/item?id=15986984
The Perfect Bid (https://www.youtube.com/watch?v=HdFKZtZop7A) went over this in more detail after a player and long time watcher (Ted Slauson) managed to win both showcases. For years, the show had used a set of household goods that had a consistent price. Ted memorized all of the prices and won both showcases at the end.
The producer freaked out over the incident and started to use more items and ones that add-ons that made guessing the price more difficult. They did that because they didn't want their winnings budget blown out. In recent years, they have been using more generic items like 'free utilities for a year' to make it more random.
/ hacker skillz /
TPIR is a very US show. In most of the world, especially going back to when the show began, the idea of a product having "a" price is laughably absurd. Everything is haggled over.
This podcast episode is about the history of The Economist. It’s really interesting:
https://citationsneeded.libsyn.com/episode-98-the-refined-so...