Chivas Regal effect

The marketing phenomena for the mindset that if something costs more, it must be more desirable. This effect is most often attributed to the price of private universities in the US. For example, because Harvard University costs $40,000 per year to attend, it must be better than a college that costs $10,000 per year to attend, all other factors being equal. It was originally a reference to a particular alcoholic beverage Chivas Regal.

This effect is mentioned in the following Time magazine article:http://www.time.com/time/magazine/article/0,9171,137412,00.html

The effect is described in the following book:"unSpun: Finding Facts in a World of Disinformation" by Brooks Jackson and Kathleen Hall Jamieson