Anchoring: In the context of the psychology of prices, anchoring refers to presenting shoppers with a number in order to get them to “anchor” their perceptions of value on either a high or low absolute. The “low ball” offer is the classic example –open a negotiation over price with a really low number and you’ll set the stage so that what you’re actually willing to pay looks higher in comparison.
Scarcity: When something is scarce, it automatically becomes more desirable to us than it would be if it were available everywhere we looked.
[…] When it comes to value, perception is reality
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