65 gives rise to 45%, and 10 gives rise to 25% Studying unknown quantities, researchers Tversky and Kahneman asked two samples what percentage of African countries were members of the ‘United Nations’. The first group was primed with the number 65 and reported an average of 45%. The second sample was primed with the number […]

65 gives rise to 45%, and 10 gives rise to 25% Studying unknown quantities, researchers Tversky and Kahneman asked two samples what percentage of African countries were members of the ‘United Nations’. The first group was primed with the number 65 and reported an average of 45%. The second sample was primed with the number 10 and reported an average of 25%.People find it very difficult to estimate the unknown in the absence of an anchor or reference point. More often than not, anchors or reference points influence perceptions.Consumers find it very difficult to judge value in the absence of anchors or reference points. If you were asked whether $100.00 represented good value for a ‘Tskerm’, you would almost certainly respond with a blank stare. I know I would. Without knowing what a ‘Tskerm’ is, how could one possibly judge value. Indeed, without understanding what other brands of ‘Tskerm’ sell…