The Business Chat – Perceived Value

In January 2007 world famous violinist Joshua Bell, posing as a street musician, gave an incognito performance to morning commuters at a metro station in Washington DC. The world famous violinist performed beautiful and complex music on an instrument worth $3.5 million, but nevertheless received only cursory attention, or none at all, from the majority of commuters who passed him by. Only days earlier Bell had played at a Boston theater where tickets sold out at an average price $100 each. In his subway performance he only made a paltry $32. This was an experiment arranged by the Washington Post. …