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A comment on Is Wine Fake?. Parent comment

Re:Is Wine Fake? by CharlesW on Monday November 21, 2022 @07:26PM (#33700185)
In case you haven’t heard the term before, what you’re describing is called “anchoring”: https://en.wikipedia.org/wiki/Anchoring_(cognitive_bias)
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Re:Is Wine Fake? by lotsofpulp on Monday November 21, 2022 @08:15PM (#33700562)
A corollary to this is a restaurant selling the wine that they acquire for the lowest price at the mid tier price to maximize profit.

A diner choosing a wine will most likely eschew the lowest price option, and obviously the highest price option will be out of most people’s reach, but customers will “spring” for the mid priced option.

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