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They examine major choice among cadets at West Point, where:
(1) students must declare a major in the first semester of their sophomore year
(2) the freshman and sophomore curriculum is completely fixed, and the semester that some course are taken is assigned at random
2/10
Aug 17, 2018 • 6 tweets • 2 min read
More Than a Penny’s Worth: Left-Digit Bias and Firm Pricing, presented by Avner Shlain site.stanford.edu/sites/default/…
Using scanner data, Avner estimates the size of the left digit bias to be about 20 cents for small grocery items. That is, they act as if a $4.99 carton of milk actually costs $4.79.