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Suppose 1,000 Students Were Split into Two Groups of 500

question 18

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Suppose 1,000 students were split into two groups of 500.Both groups were first presented with an image of a new high-end pair of jeans produced by Tommy Hilfiger,a clothing company.
The first group was given the following statement and then asked the following question: "The normal retail price of these jeans is $100.Would you be willing to pay $75 for them?"
The second group was given the following statement and then asked the following question: "The normal retail price of these jeans is $250.Would you be willing to pay $75 for them?"
Suppose that 24% of the students in the first group answered yes and that 73% of the students in the second group answered yes.It is likely that more students in the second group were willing to pay $75 for the pair of jeans because they were told the normal price was much higher.This is an example of a ________ effect in decision-making.

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Definitions:

Rationalization

A psychological strategy where disputable actions or emotions are rationalized in an apparently logical way to evade the actual reasoning.

Depot Antipsychotic

Long-acting injectable antipsychotic medications used in the treatment of schizophrenia and other disorders, providing steady medication levels.

Delusional

A condition in which a person holds beliefs firmly despite them being contradicted by reality or rational argument, typically owing to a mental disorder.

Shelter

A place offering temporary accommodation to those in need, such as homeless individuals or victims of domestic violence.

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