It’s the concept that people rely heavily on the first piece of information they see (the anchor) when making decisions. In the context of pricing, the initial price a customer sees becomes the ...

Writing in a new briefing this week, Gabriel Sterne and Melanie Rama of research house Oxford Economics argued that ... Check out the full chart below: Read next BI Tech Memo Where Big Tech ...

Behavioral economics combines psychology and economics ... s higher than what you expect or have been offered. This will anchor the discussion around a higher number, which often results in ...