How much should the Tooth Fairy pay?

A fun way into anchoring and reference prices. Taylor uses the going rate for a lost tooth (about £2.50, or £500 if your dad is Zayn Malik) to show how the first payment sets a household benchmark that is hard to move, and how playground comparisons create a local 'market rate' that ratchets upward. There is a light touch of inflation and a sensible reminder that people do not act on purely economic terms, since parents are marking a milestone as much as pricing a tooth. Best for behavioural economics, anchoring and social norms, and it lands well with students because the example is so relatable. Short and accessible to all, so use it as a starter rather than a source of extended analysis.  Read here