Have you ever eaten an expensive steak and thought to yourself that it's the best thing in the world? Or drank an expensive bottle of wine and thought it was the best thing you'd ever consumed? Well it turns out your brain may simply be tricking you into thinking that's the case.
In the video above, Business Insider explains the "Pricing Effect." It's the idea that increasing the price on an item will make people think it's of higher quality. And even if it's not any better, humans trick themselves into believing it is bette to justify spending the money on it.
So the next time you're getting ready to make an expensive purchase, maybe think about whether you're sure what you're paying for is worth it.