Researchers examine the neuroscience behind why we make certain decisions when faced with multiple choices.
In terms of consumer behavior, when people are presented with two options, they most often go for the cheapest item. Yet, when a third, middle-priced item is added, people are more likely to opt for a more expensive item, believing it to be a better bargain. This is called the decoy effect. A new study reports bats, like humans, are prone to fall for the decoy effect.
Employers looking to drive sales should consider employing a bearded salesperson, researchers say. Regardless of industry, people considered men with "manly beards" more trustworthy and more likely to be experts than their clean-shaven or mustached counterparts.
Investing in an experience, such as attending a sports event or eating at a restaurant, generates more personal happiness than splashing out on material good, a new study reports.
Those who purchase luxury goods often feel inauthentic and less confident when sporting their buys. Rather than affirming a buyers' sense of status, luxury purchases often foster an impostor syndrome.
The more subservient behavior of dogs makes their owners more willing to pay when it comes to spending on vet bills and luxury pet items.
A new study reveals nine ending prices are not universally effective at getting shoppers to the checkout line.
Duke researchers report the brands your partners choose could impact your happiness.
A new study reports recalling failures in self control can lead people to repeat the actions.