Rick decided the chocolate priced at $2.50 per kilo could not be nearly as good as the chocolate priced at $9.50 per kilo.This is an example of ________.

Question

Quizplus · Accepted Answer

This is an example of the contrast effect, where our perception of a product's value is influenced by the presence of other products in the same category that are priced differently. In this case, Rick's perception of the $2.50 chocolate is influenced by the fact that he has seen a more expensive chocolate, causing him to devalue the cheaper option.

Rick Decided the Chocolate Priced at $2