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Re:When negotiating a price, never bid with a round number (... by osrec on Friday May 06, 2022 @12:01PM (#31286728)
That's a great example, with the arrival time estimates. I wonder whether this effect itself would diminish as more people get to know about it...
Re:When negotiating a price, never bid with a round number (... by mbreese on Friday May 06, 2022 @12:06PM (#31286794)
And yet, how often are prices at a store still quoted as $4.95? or $10.99? We all know what the psychology of pricing is, and yet it still persists. People are strange and illogical creatures.
Re:When negotiating a price, never bid with a round number (... by dymk on Friday May 06, 2022 @01:32PM (#31287768)
Those are "round" numbers by social convention, and our psychology rounds them down.
Re:When negotiating a price, never bid with a round number (... by iso1631 on Friday May 06, 2022 @03:18PM (#31288755)
I think I automatically round 10.99 to 10, 9.99 to 10, 4.95 to 5, etc.
Re:When negotiating a price, never bid with a round number (... by V-2 on Friday May 06, 2022 @04:22PM (#31289273)
The first case is bizarre to me, unless that's a typo
Re:When negotiating a price, never bid with a round number (... by robocat on Friday May 06, 2022 @08:31PM (#31291070)
> Bizarre

They just round more than you: I think your presumption that others should think like you is bizarre. Some people only round to 10 cents. If you are wealthy enough, you could easily round 10.99 to $0.

Re:When negotiating a price, never bid with a round number (... by V-2 on Monday May 09, 2022 @04:27AM (#31311799)
> I think your presumption that others should think like you is bizarre.

What I actually wrote was "bizarre to me", not just "bizarre" (as in your quote), so I don't think it's fair to say that my comment conveyed such presumption

Re:When negotiating a price, never bid with a round number (... by kingofpandora on Friday May 06, 2022 @11:40PM (#31291973)
I think it just proves that x.99 pricing works. It tripped up the poster who was trying to claim they mentally round up.
Re:When negotiating a price, never bid with a round number (... by iso1631 on Monday May 09, 2022 @01:07PM (#31316745)
Which poster was claiming that?
Re:When negotiating a price, never bid with a round number (... by iso1631 on Monday May 09, 2022 @01:07PM (#31316732)
No it's not, 10.99 for some reason works for me
Re:When negotiating a price, never bid with a round number (... by dvtrn on Friday May 06, 2022 @01:25PM (#31287707)
Keeping with the arrival time estimate, and I’m not sure if this answers your question

But I live in a very dense city (Chicago), it’s become almost “set your watch to it” reliable that not only are estimates more reliable from friends who live here when they say “I’ll be there in 8 minutes”, they’re also seemingly more likely to offer such a precise estimate because they know the area, light timings, and traffic patterns and that certain kind of behavior found among drivers in this city.

Compared to when I have friends from out of town renting a car they’ll tell me “GPS says we’ll be there in 10 minutes” I instinctively add another 10 and it’s never failed that they’ll show up and go “that was a long 10 minutes!” And I just smile.

Re:When negotiating a price, never bid with a round number (... by hinkley on Friday May 06, 2022 @02:57PM (#31288598)
I lived in a part of town that was in the process of infill so a lot of people “knew” it without really knowing it.

It was practically a given that the first time someone visited they would arrive 15-20 minutes later than they estimated. It seemed like an area without a lot of traffic but it was in that uncanny valley where there’s enough traffic where you catch a lot of lights, and you aren’t turning right on red because there are people in front of you, and you may or may not make the left turn light on the first cycle.

Also the whole city is so tuned for one direction of traffic that it takes longer to go across the narrow dimension than the long one.

There was a movie theater that I found I could reliably get to faster on a Friday evening if I drove five blocks past it and doubled back, the lights were that screwed up. 15 blocks faster than 5.

Re:When negotiating a price, never bid with a round number (... by subroutine on Friday May 06, 2022 @07:36PM (#31290657)
In San Diego we just use a blanket "be there in 20 minutes" no matter where you are going.
Re:When negotiating a price, never bid with a round number (... by jhgb on Friday May 06, 2022 @05:34PM (#31289828)
...or knew about octal numbers. (Does it even work on old Unix people?)