BIAS OF THE WEEK

Less is Better Effect

In an experiment, people were given two imaginary ice cream servings…

When the choices were presented separately, participants were willing to pay more for a smaller scoop of ice cream that was overflowing, compared to a bigger scoop not filled to the top.

The way options are presented can change how we perceive an item’s value.

See the full study here :

Hsee, C. K. (1998). Less is better: When low‐value options are valued more highly than high‐value options. Journal of Behavioral Decision Making, 11(2), 107-121.

Want to know more about biases?

Social Desirability Bias

Cashless Effect

Goal Gradient Effect