I don't have a scientific explanation for it but my answer is that the placebo effect is the externally aided form of what imagination can do, what I mean is that when a reputable source tells you that this pill will help you go to sleep then it has that errie effect even though it is a sugar pill, for awhile until the "placebo effect" is realized as a lie, and it wears off, but if you believe in yourself enough and use your imagination enough then all the pills in the world and fancy cars and expensive things can't compare because you can have the effect of things simply by believing in yourself not in what others tell you to believe will make you happy. Another thing is that what would happen if a person were practiced and used their internal "placebo effect" throughout their lifetime?
This is only one angle, I'm having trouble explaining why I think this is how it works but that it makes good sense...the imagination is a lying machine, but even lies can be productive if used productively, the placebo effect is basically a well fabricated lie, yet the effects are there like magic although they wear off as the lie is revealed in time, the more elaborate and well crafted the lie the longer it may take the rational animal to catch up with the lie. The process of using the imagination to lie to oneself for practical purposes and play catch up would be a process of elation and let down, but addictive...buy why do people give up on imagination and themselves for believing in pills and what groups believe? How exactly is it possible that something that does not actually exist in reality can have a real and definite affect on a person, this is bizarre! It suggests that somewhere in the brain is the capacity to reach into areas of thinking that should be impossible such as heart rate or intestinal function, etc.. and manipulate them purely by thought, I can't think of any animal that can do this other than humans.