3 ms·
That's not what the effect is about. The effect is about normal people becoming more likely to choose the expensive one because it appears to be "less 'more exp
by srtjstjsj 8y ago
That's not what the effect is about. The effect is about normal people becoming more likely to choose the expensive one because it appears to be "less 'more expensive'", because they judge ratios instead of absolute values.
A similar irrationality is when people will do an extra hour's work to save $50 off a $100 purchase, but not to save $50 off a $10000 purchase.