16% chose the cheaper option, and 84% chose the better option In a famous study, completed in conjunction with the Economist magazine, Professor of Psychology at Duke University in the United States, Dan Ariely, tested 100 students as follows: Group 1 This group was presented with two purchase options: The web edition of the Economist […]

16% chose the cheaper option, and 84% chose the better option In a famous study, completed in conjunction with the Economist magazine, Professor of Psychology at Duke University in the United States, Dan Ariely, tested 100 students as follows: Group 1 This group was presented with two purchase options: The web edition of the Economist only for 50 cents a day; or The web edition with the weekend print edition for 50 cents per day   Group 2 This group was presented with the following three options: The web edition of the Economist only for 50 cents a day; or The web edition with the weekend print edition 50 cents per day; or The web edition and a copy of the print edition daily for $1.00 per day  The findings were as follows: Group 1 Web only – 68% Web and weekend print – 32%   Group 2 Web only…