Cheaper? If The Left Digit Effect Says So
When shopping, we often find ourselves choosing between lower- and higher-cost items. But most people make a choice based on the first digit they see, according to a new study in the Journal of Consumer Research.
"Shoppers pay a disproportionate amount of attention to the leftmost digits in prices and these leftmost digits impact whether a product's price is perceived to be relatively affordable or expensive," write authors Kenneth C. Manning (Colorado State University) and David E. Sprott (Washington State University).
In one experiment, Manning and Sprott asked participants to…