I tried to ethically and fairly provide my professional services. Clients ended up going to the shady, incompetent and dangerous providers because they used scare tactics and charged 3x more than me. The clients thought this high price meant they were higher quality.
Not all, but some. I stuck with my fair pricing because I believe it's the right thing to do and it pays off long term. But these psychological factors definitely matter.
It's not the right thing and doesn't pay long term. Charge three times as much, don't use scare tactics if it's not something you should do, discover that you have more clients paying 3 times as much. And now they're using you and not some scammer.
Not all, but some. I stuck with my fair pricing because I believe it's the right thing to do and it pays off long term. But these psychological factors definitely matter.