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This article needs to be completely changed -- left digit bias vs. psychological pricing

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Psychological pricing is one specific cognitive bias, described under the umbrella term "left digit bias"; left digit bias includes mileage, academic grades, etc., but pricing is the most extensively research area, notably in behavioral economics. There is no article on left digit bias. This article should be completely changed.

Left digit bias is a cognitive bias where the difference of a number compared to another closely valued number is irrationally perceived as more distant, due to a difference in the largest, or the leftmost, digit.

Paethos (talk) 19:46, 8 December 2016 (UTC)[reply]

A term for ‘Psychological’ or ‘Left Digit Bias’ Pricing

As far as I'm aware there is no definitive or dictionary term for psychological/left digit bias pricing. As I wanted to comment on this subject I was considering what term to use. I settled on ‘just-under-pricing’ and that, after introducing the term, I would use its abbreviation. I soon realised that I'd be better off defining the abbreviation as standing for ‘just-under-price’ instead, i.e. a single instance of the practice rather than the practice itself. That would allow me to use the abbreviation's derivatives, e.g. JUPs (multiple instances); JUP's (referring to an instance's property or characteristic; JUPs' (ditto for multiple instances) &c. I think I was pronouncing it ‘joop’ rather than ‘j+up’ all along, but I'm sure some people would opt for the latter. What clinched it and I hope will convince everyone that it should be pronounced ‘joop’ is the term for the actual practice itself: ‘JUPing’. Surely everyone would pronounce that ‘jooping’ rather than ‘j+upping’? and in that case doesn't it follow that JUP and its derivatives should be pronounced ‘joop’? Sadly, I can't pretend (at least not honestly) that I'd chosen ‘just-under-price’ because its acronym so closely resembles ‘dupe’, it was pure serendipity. It's possible that I recognized its potential subconsciously, as it was the first thing I came up with. Of course it's entirely up to you whether you choose to adopt this terminology, but I was rather pleased with the idea, especially as the intention of the practice is to dupe you into thinking that something is cheaper than it really is (although I'm not convinced that that is the reason it was first adopted, even if it probably is the reason it's still being used). In light of that I thought it worth proposing the adoption of JUP here. I'm also considering proposing it to the OED too. Whether they'll accept it or it'll catch on remains too be seen. SaintIX (talk) 12:23, 17 January 2025 (UTC)[reply]

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