The idea that the way a good is presented, such as setting its price slightly lower than another option, will affect people's decision about a good is called:
A) consumers like choices but not too many.
B) people like fairness.
C) susceptibility to framing.
D) bounded rationality.

Question

Quizplus · Accepted Answer

Susceptibility to framing refers to how the presentation or "framing" of information, such as pricing strategies, can influence decision-making and perceptions. This concept is a key insight from behavioral economics, showing that the way options are presented can significantly affect choices, even if the underlying value remains the same.

The Idea That the Way a Good Is Presented, Such