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Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1 ]
Pricing designed to have a positive psychological impact. For example, there are often benefits to selling a product at $3.95 or $3.99, rather than $4.00. If the price of a product is $100 and the company prices it at $99, then it is using the psychological technique of just-below pricing.
Oppositional defiant disorder ( ODD) [ 1] is listed in the DSM-5 under Disruptive, impulse-control, and conduct disorders and defined as "a pattern of angry/irritable mood, argumentative/defiant behavior, or vindictiveness". [ 2] This behavior is usually targeted toward peers, parents, teachers, and other authority figures, including law ...
List of cognitive biases. Cognitive biases are systematic patterns of deviation from norm and/or rationality in judgment. They are often studied in psychology, sociology and behavioral economics. [ 1] Although the reality of most of these biases is confirmed by reproducible research, [ 2][ 3] there are often controversies about how to classify ...
Framing effect (psychology) The framing effect is a cognitive bias in which people decide between options based on whether the options are presented with positive or negative connotations. [ 1] Individuals have a tendency to make risk-avoidant choices when options are positively framed, while selecting more loss-avoidant options when presented ...
Anchoring effect. The anchoring effect is a psychological phenomenon in which an individual's judgments or decisions are influenced by a reference point or "anchor" which can be completely irrelevant. Both numeric and non-numeric anchoring have been reported in research. In numeric anchoring, once the value of the anchor is set, subsequent ...
In the branch of experimental psychology focused on sense, sensation, and perception, which is called psychophysics, a just-noticeable difference or JND is the amount something must be changed in order for a difference to be noticeable, detectable at least half the time. [ 1] This limen is also known as the difference limen, difference ...
Oddball paradigm. The oddball paradigm is an experimental design used within psychology research. The oddball paradigm relies on the brain's sensitivity to rare deviant stimuli presented pseudo-randomly in a series of repeated standard stimuli. The oddball paradigm has a wide selection of stimulus types, including stimuli such as sound duration ...