The commodity substitution bias is that consumers substitute high-quality goods for low-quality goods.

Name: The commodity substitution bias is that consumers substitute high-quality goods for low-quality goods.
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The commodity substitution bias refers to the tendency of consumers to substitute goods that have become relatively more expensive with cheaper alternatives, not necessarily substituting high-quality goods for low-quality goods.

The Commodity Substitution Bias Is That Consumers Substitute High-Quality Goods