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FairPay by Richard Reisman

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The FairPay Manifesto

  • Markets want to be smart and finely adapted to incentives.

  • The Internet wants to be smart and adaptive.

  • The Internet enables direct feedback that is immensely rich and timely.

  • Direct feedback is the most powerful way to tune incentives.

  • Free is inherently dumb, because it obscures market incentives.

  • Set prices do not reflect value-as-realized (by individual buyers).

  • Prices should correspond to value-as-realized.

  • Buyers, not sellers, perceive value-as-realized.

  • Sellers should measure and manage buyer perception of value-as-realized.

  • Maximize buyer perception of value-as-realized and a fair price will follow.

  • A good pricing process is a conversation.

  • The way to do pricing is to be a pricing process.

(As originally published ...

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