2 ms·
True, but I think most consumers aren't obviously "dumb". Most people past 3rd grade can tell that $4 for 1 gallon is cheaper than $2 for 1 quart. It gets trick
by zeroonetwothree 3y ago
True, but I think most consumers aren't obviously "dumb". Most people past 3rd grade can tell that $4 for 1 gallon is cheaper than $2 for 1 quart. It gets trickier when it's not a direct comparison though... would you rather drive 20 min farther to save the $4? Probably not just for that one item, but if you are buying a large amount then the answer changes.
We don't necessarily do a cost/benefit analysis of all these options, which is why we can have irrational preferences, but that doesn't mean we don't think about it at all. Irrational just means it's not optimal, it doesn't mean it's the actual worst choice.
- duxup 3y agoPerception is a strange thing too, and I think greatly distorts when people do make comparisons. On a forum about my local area it became a common thing for folks to go down to the expensive grocery store and post pics of the most expensive thing (usually pre-preapred meals) and rant about how expensive it is at the expensive store. I was curious so one day I was at the more expensive store (I like it, they have good stuff) and I took some photos. I then went to Aldi and took some photos. Without commentary I posted the photos from the expensive store, but only of items that were actually less or equally expensive than Aldi on that day. People ranted about the prices being high at the expensive store and shared that "That's why I shop at Aldi." People are weird.