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anchoring

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    Price Psychology Entry #0357

    Why anchoring works on the price you never pay

    A struck-through figure that nobody was charged still sets the standard the real price is judged against. Its only function is to be higher.

    Novice
    The hidden part #0357

    The anchor works by being adjacent, not by being true. A number nobody paid still sets the scale for the number you do.

    Open file
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    Scarcity & Queues Entry #0455

    Why one-per-customer raises the average purchase

    A limit of two per customer raises the average quantity bought. The restriction is read as information about how many one ought to take.

    Master
    The hidden part #0455

    A limit is not only a ceiling. It is a suggestion, and it usually sits above what the buyer had in mind.

    Open file
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    Negotiation Frames Entry #0334

    Why a written offer changes the conversation

    A spoken offer is heard and interpreted. A written offer is read and re-read, and each re-reading anchors the terms more firmly than the previous one.

    Adept
    The hidden part #0334

    A spoken offer fades. A written one stays on the table and strengthens each time it is re-read.

    Open file
  • No visual on file
    Price Psychology Entry #0357

    Why anchoring works on the price you never pay

    A struck-through figure that nobody was charged still sets the standard the real price is judged against. Its only function is to be higher.

    Novice
    The hidden part #0357

    The anchor works by being adjacent, not by being true. A number nobody paid still sets the scale for the number you do.

    Open file
  • No visual on file
    Cognitive Bias Entry #0102

    The reason yesterday’s price feels like the right price

    A number you saw once becomes the standard against which every later number is judged, even when you cannot remember where the first one came from.

    Adept
    The hidden part #0102

    The last price paid is not evidence of the right price. It is the starting point of a comparison that was never asked for.

    Open file
  • No visual on file
    Negotiation Frames Entry #0329

    The reason a range signals more than a single figure

    A stated range tells the other side where movement is possible and where it is not. Bracketed offers often settle higher than the equivalent single number.

    Adept
    The hidden part #0329

    A range moves the argument inside the band. It anchors high while appearing to concede, and appearance is what the counterparty answers.

    Open file
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    Decision Architecture Entry #0130

    Why splitting a choice into steps changes the outcome

    The same decision, taken in one pass or in four, produces different answers. Each completed step becomes the reference point for the next one.

    Master
    The hidden part #0130

    Sequence sets the reference points. A decision split into steps is a decision compared against itself rather than against a budget.

    Open file
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    Negotiation Frames Entry #0326

    Why the person who names a number first is not always losing

    Folk wisdom says never go first. Research says the first number anchors the entire negotiation, and whoever sets the anchor often sets the outcome.

    Novice
    The hidden part #0326

    Anchoring can outweigh information loss. The person who sets the first number often sets the final one, because every adjustment thereafter begins from their starting point.

    Open file
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    Price Psychology Entry #0351

    Why nine at the end of a price still works

    Prices ending in nine still outsell round neighbours, and the reason is not that shoppers are fooled about the total but how the number is read.

    Novice
    The hidden part #0351

    A price is read left to right and encoded before it is finished, so the first digit does most of the work.

    Open file
  • No visual on file
    Negotiation Frames Entry #0330

    Why splitting the difference rewards the extreme opener

    Meeting in the middle sounds fair, but the middle is computed from the two openings, which hands the result to whoever opened further out.

    Master
    The hidden part #0330

    A fair-looking rule applied to unfair inputs launders the asymmetry instead of removing it.

    Open file