Summary #1192

Consumers prefer round numbers even when the specific number is better news

eurekalert.org
  • New study from behavioral economics provides an interesting insight - important public information, as well as marketing messages, should have round numbers.
  • When the number isn’t round (91.27% instead of just 90%), people start thinking too much about it, and usually conclude that it’s not good.
  • This was tested with six different datasets on over 1,500 people, and the main conclusion is that people are rubbed negatively by non-round numbers.
  • The reason for this is unknown, people just don’t seem to like too specific numbers, it was surprising even for the study authors, and it is related to attribute framing.
  • It’s the study of whether people perceive an attribute positively or negatively depending on how it’s framed.

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