"Expensive" Placebos Work Better Than "Cheap" Ones

A new study published in the American Medical Association has a new and astonishing demonstration of just how much your perception becomes your reality when it comes to prices. People in the study thought they were trying out a new kind of pain med. Instead, they got sugar pills. However, some were told their sugar pills cost $2.50, and the others were told the pills cost $0.10. People with the “pricey” sugar pill had their pain reduced much more than the “cheap” sugar pill. Does this mean that price alone pays for itself?

(Thanks to Cheryl!)

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.