from a psychophysics problem. They match reality with behaviour as though the one maps perfectly onto the other. But this is wrong. For example, the data might say that people won’t pay £49 for a jar of coffee and that’s true, mostly. However people will pay 29p for a single Nespresso capsule which amounts to a similar cost – without understanding human perception it is unable to distinguish between the two. Will people pay £100 for a pair of shoes? In Walmart, no chance, but in the designer store Neiman Marcus, easily. Will people pay £500 for a mobile phone handset? Nokia’s data said no, but
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