Pick your own ticket, charge four times as much. Same odds.
In 1975 Ellen Langer let office workers either choose a lottery ticket or receive one at random. Those who chose demanded an average of $8.67 to resell it; the others just $1.96. The winning odds were identical either way.
Useful: Wherever you get to choose, you overrate your influence – especially over random processes.
Source: nuovoeutile.it