Consider two coupons: one offers 10 percent off a pair of jeans that costs $100, and the other offers 50 percent off a pair of sunglasses that costs $20. Using either coupon requires driving to the shopping mall across town. According to the Weber-Fechner law, which coupon will people tend to perceive as being more valuable?

Question

Quizplus · Accepted Answer

The Weber-Fechner law is the relationship according to which the perceived change in any stimulus varies according to the size of the change measured as a proportion of the original stimulus. In this case, even though both coupons lead to a savings of $10, the Weber-Fechner law predicts that people will tend to perceive the coupon for the sunglasses to be more valuable because $10 is a bigger proportion of the original price of the sunglasses.

Consider Two Coupons: One Offers 10 Percent Off a Pair