mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Didn't know that it had a name, but I have always discounted this effect even though I have seen it used many, many times. Guess I'm wrong.
This Blog Post Costs $3.99 : Planet Money : NPR
In one study, researchers offered people a choice between two different pens.
When the pens were priced at at $2.00 and $3.99, nearly half of the people chose the more expensive pen.
But when the prices changed by a single penny, to $1.99 and $4.00, fewer than 20 percent of people chose the more expensive pen.
Social scientists call this the "left-digit bias" — peoples' tendency to place too much weight on the leftmost digit of a number.
This Blog Post Costs $3.99 : Planet Money : NPR