Which Numbers Influence Us? Left-Digit Effect

Sebastian Oetzel () and Andreas Luppold ()
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Sebastian Oetzel: Hochschule Fulda – University of Applied Sciences

Chapter Chapter 17 in 33 Phenomena of Purchasing Decisions, 2024, pp 89-94 from Springer

Abstract: Abstract This chapter introduces the anchoring effect, shows that people are influenced by other information in their decisions, presents scientific studies on the anchoring effect in relation to price decisions, and discusses the left-digit effect, which shows that buyers pay attention to the left digit of the price in fractional prices.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-44799-1_17

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DOI: 10.1007/978-3-658-44799-1_17

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