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Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1 ]
Acquisition value is the money that one is ready to part with for physically acquiring some good. [15] Transaction value is the value one attaches to having a good deal. [15] If the price that one is paying is equal to the mental reference price for the good, the transaction value is zero.
It actually declines over time. This means that the difference between receiving $10 tomorrow and $11 in two days is different from receiving $10 in 100 days and $11 in 101 days. Although the difference between the values and the times is the same, people value the two options at a different discount rate. The $1 is more heavily discounted ...
Specific subtests can provide insight into specific cognitive functions; for example, the digit span subtest could be used to look for attentional difficulties. [ 14 ] The Wechsler tests can also be used to identify intellectual giftedness , and are commonly accepted as qualifying evidence for high-IQ societies , such as Mensa , Intertel and ...
An intelligence quotient (IQ) is a total score derived from a set of standardized tests or subtests designed to assess human intelligence. [1] Originally, IQ was a score obtained by dividing a person's mental age score, obtained by administering an intelligence test, by the person's chronological age, both expressed in terms of years and months.
The original authors had to underline again that the attraction effect occurs only if the consumer is close to indifference between the target and the competitor, if both dimensions of the products (in our example, price and storage capacity) are about as important as each other to the consumer, if the decoy is not too undesirable, and if the ...
In economics, a threshold price point is the psychological fixing of prices to entice a buyer up to a certain threshold at which the buyer will be lost anyway. The most common example in the United States is the $??.99 phenomenon—e.g. setting the price for a good at $9.99.
Asymmetric price transmission (sometimes abbreviated as APT and informally called "rockets and feathers" , also known as asymmetric cost pass-through) refers to pricing phenomenon occurring when downstream prices react in a different manner to upstream price changes, depending on the characteristics of upstream prices or changes in those prices ...