Bang for your buck: Urijah Faber, right, makes his pay-per-view debut on April 24.
If you come to this space looking for psychology lessons, you're gonna leave disappointed. But in Wednesday's announcement that Zuffa's World Extreme Cagefighting will be heading to premium television in April at a price point of $44.99, a little consumer jiu-jitsu lesson might be in order.
The WEC event -- which is slated to feature Urijah Faber versus Jose Aldo at the top -- is already being critiqued in some circles for its exorbitant cost relative to what's being offered. UFC shows with far more recognizable stars dangle the same sales tag; worse, the WEC has been offering virtually all of their content for free up until now. Some protesters would prefer to see the cost drop -- to $25 or $30 -- to reflect the disparity.
This doesn't work, and here's why: Studies have been conducted to argue we actually place more value on expensive products even if they happen to be identical to something offered at a lower price. For example, $5 wines in the research rated high when subjects were told they cost $45; $90 bottles rated poorly when they had a $10 tag attached.
Sad but true: A WEC event at $45 may actually "reward" viewer neurons with greater satisfaction than if it cost $30. Ring psychology can take a lot of different forms.