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On discounting

2014-12-12 17:57:12.589192+01 by Dan Lyke 0 comments

The Economist: The psychology of discounting. Having trouble finding the inevitable press release, but it's about 's work on discounting.

This numerical blind spot remains even when the deal clearly favours the discounted product. In another experiment, this time on his undergraduates, Mr Rao offered two deals on loose coffee beans: 33% extra free or 33% off the price. The discount is by far the better proposition, but the supposedly clever students viewed them as equivalent.

Careful with that innumeracy.

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