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Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1]
Anti-consumerism. Buyer's remorse is the sense of regret after having made a purchase. It is frequently associated with the purchase of an expensive item such as a vehicle or real estate. Buyer's remorse is thought to stem from cognitive dissonance, specifically post-decision dissonance, that arises when a person must make a difficult decision ...
Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory. [ 1][ 2] Behavioral economics is primarily concerned with the bounds of rationality of economic agents.
Bounce houses can also become dangerous when they are “dragged, blown over or lofted by winds,” according to 2022 study that found that there have been a sizable number ...
In the field of consumer behavior, an impulse purchase or impulse buying is an unplanned decision by a consumer to buy a product or service, made just before a purchase. [ 1] One who tends to make such purchases is referred to as an impulse purchaser, impulse buyer, or compulsive buyer. Research findings suggest that emotions, feelings, and ...
This can lead to differences between buying and selling prices because the market price is typically higher than one's idiosyncratic price estimate. According to this account, the endowment effect can be viewed as under-pricing for buyers compared to the market price; or over-pricing for sellers compared to their individual taste.
Just imagine the pictures you'll take in this photo booth/fun house, which is made of commercial-grade PVC vinyl, double-stitched for durability. D rings adorn the tent high and low — high for ...
The anchoring effect is a psychological phenomenon in which an individual's judgments or decisions are influenced by a reference point or "anchor" which can be completely irrelevant. Both numeric and non-numeric anchoring have been reported in research. In numeric anchoring, once the value of the anchor is set, subsequent arguments, estimates ...