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It wasn't just naming a large number: It was taking a random number (last 2 social security digits), writing it down with a $ in front, compare it as price to c
by PanMan 17y ago
It wasn't just naming a large number: It was taking a random number (last 2 social security digits), writing it down with a $ in front, compare it as price to certain products, and THEN bidding on them. Not just naming a big number.
It's in one of his 2 TED talks, which both are great to watch.
- atlbeer 17y agoWhich Ted talks are you referring to? edit - (Just realized you were referring to Dan Ariely)
- kulkarnic 17y agoSimilar effects have been seen for non-dollar figures: people anchor to numbers on Wheel of Fortune, for instance (Kahneman's 1974 paper). However, this anchoring is definitely weaker, so your point is taken.