Economics
Behavioral Economics: Heuristics and Biases in Consumer Decision-Making
Quick fact
The anchoring effect can make you pay 30% more for a product if you saw a higher 'suggested' price first, even when you know the wholesale cost is far lower.
Why this is interesting
You've told yourself you're a rational consumer—but why did you just buy that overpriced coffee because it was '50% off'? Hidden mental shortcuts may be steering your wallet more than you think.