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Psychological pricing (also price ending, charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [1]
List of cognitive biases. Cognitive biases are systematic patterns of deviation from norm and/or rationality in judgment. They are often studied in psychology, sociology and behavioral economics. [1] Although the reality of most of these biases is confirmed by reproducible research, [2] [3] there are often controversies about how to classify ...
In social psychology, reciprocity is a social norm of responding to a positive action with another positive action, rewarding kind actions. As a social construct, reciprocity means that in response to friendly actions, people are frequently much nicer and much more cooperative than predicted by the self-interest model; conversely, in response to hostile actions they are frequently much more ...
The Dunning–Kruger effect is defined as the tendency of people with low ability in a specific area to give overly positive assessments of this ability. [2] [3] [4] This is often seen as a cognitive bias, i.e. as a systematic tendency to engage in erroneous forms of thinking and judging. [5] [6] [7] In the case of the Dunning–Kruger effect ...
Compensation (psychology) In psychology, compensation is a strategy whereby one covers up, consciously or unconsciously, weaknesses, frustrations, desires, or feelings of inadequacy or incompetence in one life area through the gratification or (drive towards) excellence in another area. Compensation can cover up either real or imagined ...
v. t. e. Psychology is the study of mind and behavior. [1] Its subject matter includes the behavior of humans and nonhumans, both conscious and unconscious phenomena, and mental processes such as thoughts, feelings, and motives. Psychology is an academic discipline of immense scope, crossing the boundaries between the natural and social sciences.
Framing effect (psychology) The framing effect is a cognitive bias in which people decide between options based on whether the options are presented with positive or negative connotations. [1] Individuals have a tendency to make risk-avoidant choices when options are positively framed, while selecting more loss-avoidant options when presented ...
Counseling psychology is a psychological specialty that began with a focus on vocational counseling, but later moved its emphasis to adjustment counseling, [1] and then expanded to cover all normal psychology psychotherapy. There are many subcategories for counseling psychology, such as marriage and family counseling, rehabilitation counseling ...