It's called the price-quality effect: https://en.wikipedia.org/wiki/Pricing_strategies#:~:text=Price%2Dquality%20effect%20%E2%80%93%20buyers%20are,with%20minim

It's called the price-quality effect: https://en.wikipedia.org/wiki/Pricing_strategies#:~:text=Price%2Dquality%20effect%20%E2%80%93%20buyers%20are,with%20minimal%20cues%20for%20quality https://en.wikipedia.org/wiki/Pricing_strategies#:~:text=Pri....