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Psychology

Anchoring Bias in Price Perception

Quick fact

In a classic study, when shoppers saw a sign limiting Campbell's soup to 10 cans per person, they bought twice as many as those who saw no limit—showing how an anchor can influence quantity decisions.

Why this is interesting

Have you ever thought a $50 shirt was a bargain because it was marked down from $100? Why does the original price—which you never intended to pay—suddenly make $50 feel like a steal?