Which detergent washes better? One from a blue box, yellow box or a red box? Turns out, most people think it is the one in a blue box?—?even if all the three boxes have exactly the same detergent. What is a reasonable price for a bottle of wine?—?$10, $18 or $27? Again turns out that most people choose the middle price with no regard to the taste. Interestingly even if all the three prices were increased by say $10, most customers still choose the middle one which will now cost $28.
Research has shown that when asked to estimate
Research has shown that when asked to estimate