Anchor Pricing
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison.
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison.
A framework suggesting there are two systems of thinking: System 1 (fast, automatic) and System 2 (slow, deliberate), influencing decision-making and behavior.
The behavior of seeking information or resources based on social interactions and cues.
A cognitive bias where people judge the likelihood of an event based on its relative size rather than absolute probability.
A cognitive bias where people perceive an outcome as certain while it is actually uncertain, based on how information is presented.
A psychological perspective that emphasizes the study of the whole person and the uniqueness of each individual, focusing on concepts such as self-actualization and personal growth.
Emotional states where individuals are calm and rational, often contrasted with hot states where emotions run high.
A cognitive bias where people give greater weight to outcomes that are certain compared to those that are merely probable.
A cognitive bias where people rely too heavily on their own perspective and experiences when making decisions.