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Please read Ariely Ch 1 “The Truth about Relativity”, and answer the following questions. Your answers should be concise and organized in bullet points, and explained in your own words that are understandable to someone who has not read the book. Please read guideline to get the detail of format.
The Decoy Effect
• One story that I find interesting is the story of subscription offers that an economist wanted to offer which included internet subscription only for $59 and print subscription only for $125.
However, the economist added a twist to the offers since they realized that few people would be willing to buy print for such a high amount.