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What is confirmation bias? Confirmation bias refers to the tendency to look for or interpret information in a way consistent with one's beliefs.

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What is competitive pricing? Competitive pricing is the process of selecting the optimal price points for a product or service, taking into account competitors' pricing behavior.

a pile of wooden clocks laying together

What is the time pressure bias? Time pressure causes a higher propensity of decision-makers to shift from logical and rational processes to intuitive processes.

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What is the Power of Free concept? The Power of Free concept, or the “Zero Price Effect,” describes how people tend to choose a product if it includes a free element even though it has little ...

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What is social desirability bias? Social desirability bias reflects a respondent's propensity to answer in a way perceived as socially acceptable rather than the respondent's genuine opinion or ...

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What are price thresholds? A price threshold is a pricing strategy that sets the price of a product or service at a level intended to match customers' psychological willingness to make a purchase. It ...

a rusty anchor lays on the ground

What are price anchors? A price anchor sets a buyer's expectation at a certain price level. They are often used to increase the perceived value of the goods offered.

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What is the compromise effect? The compromise effect, or the "preference for the middle option," describes a buyer's tendency to choose a middle product more often than the inherent utility would ...

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What is the endowment effect? The endowment effect describes buyers' tendency to value a good higher once they own it. Therefore, people demand more money for giving up an object than they would be ...

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What is the nudging effect? The default nudging effect describes the predictable altering of user behavior through positive reinforcement.

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