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Michael Herold is married to an economist and is a staff engineer at Flywheel where he writes Ruby programs to support PHP programs. He gave a talk at RailsConf 2018 about how to price a product. The frame for the problem is whenever you have a business idea, you eventually have to decide how to price it, and the pricing area is ripe for inefficiency on both customer and business ends. In his talk, he gave a simple framework based on the field of market research that helps give you an idea of what to price your product or service at called the Van Westendorp Price Sensitivity Meter, which is based off of talking with your customers about how they would value your product. He explains the difference between consumer surplus and producer surplus. The panel discusses other ways of determining pricing, such as basing your price off the price of a similar product. They discuss the pros and cons of different complex pricing they’ve seen. While complex pricing can be a turn off for many customers, it can also weed o