If you provide a price or quote best to leave out the comma

To manipulate the number of syllables of a given price Coulter, Choi, and Monroe (2012) introduced a comma into the same four-digit price and let it mention in a radio commercial as, for example, $1,645 (one thousand six hundred forty-five: 9 syllables) vs. $1645 (sixteen forty-five: 5 syllables). Then participants were asked to rate the magnitude of the price on a 10-point scale.

Participants rated the magnitude of the price with the comma higher than the same price without a comma.

Nudged

The Psychology of Price: How to use price to increase demand, profit and customer satisfaction

Leigh Caldwell

Excerpt from

The Psychology of Price: How to use price to increase demand, profit and customer satisfaction

by Leigh Caldwell

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Behavioural principles

Behavioural ideas at play in this post

Short, plain-English explanations of the principles behind this post, with links to related books and examples in the archive.

Price-quality heuristic

When quality is hard to judge, price becomes a shortcut.

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Curse of knowledge

Once we know something, it becomes hard to imagine what it feels like not to know it.

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Contrast effect

We judge things relative to nearby alternatives, not in isolation.

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If you provide a price or quote best to leave out the comma

Behavioural ideas at play in this post

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