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The 15% tariff rate on Japan can feel like a relief only because of hefty ones before
The anchoring effect is one of the sneakiest tools companies use to make us spend money. Here’s how it works. Let’s say we’re shopping for a smartphone manufactured by Dapple, which has just released two new models: a $1,200 model with a big screen and a $900 one that is more compact. The more expensive smartphone will serve as the “anchor” by which we make comparisons, so the $900 model will appear to be value for money — even if it is costly in absolute terms. But we’re likely to feel good about choosing it because we’ve “saved” $300 on our purchase. This scenario seems to be what’s happening ... (full story)
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