In Class #13 we talked about 8 systematic biases that can affect consumers' understanding of prices. 1. Price as a signa

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answerhappygod
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In Class #13 we talked about 8 systematic biases that can affect consumers' understanding of prices. 1. Price as a signa

Post by answerhappygod »

In Class #13 we talked about 8 systematic biases that can affect
consumers' understanding of prices.
1. Price as a signal of quality
2. Absolute vs Relative number processing
3. Context / Anchoring effect
4. “Hunter” mindset
5. Prices ending in 95 or 99
6. Mental accounting
7. Goldilocks / compromise / decoy effect
8. Reference prices
Pick 3 biases and share one example each of how they have
affected your purchases.
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