Default effect: Why we buy things we don’t like

By The Manila Times

Jan 18, 2015 7:00 pm

Reylito A.H. Elbo

IN 1914, Ford Motor introduced a policy of making a car of “any color as long as it is black”—the Model T, the first mass-produced car affordable for the middle class. That was the time when founder Henry Ford required his factory managers to make only black-painted cars because of its durability and cheap cost.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.