Hi everyone,
Recently came across the term *left-digit bias*, which seems to be attributed to researchers Manoj Thomas and Vicki Morowitz. I know it’s not new and thus might be obvious to those who have kept up with the research.
Could you please explain: What exactly does it mean? What are the major theories of how it functions/what triggers it in terms of perception and processing? Is it in any way associated with literacy or numeracy (i.e., is it weaker in right-to-left reading languages like Arabic or in people with stronger mathematical skills)?
Tried to read the OG papers. Not my domain, so I assume I’m grossly misunderstanding what it is and how it actually works. TIA!
Note: Reposted from the behavioral economics sub, thus the economics flair. Not sure if the same phenomenon exists under a different name in any other domains.
In: Economics
When comparing numbers, especially prices, we tend to overvalue the first digit and undervalue the remainder. You’re likely to perceive a greater difference between $2,255 and $1,899 than between $1,899 and $1,255, because the latter are both “one thousand and something” and the former is “two thousand and something.”
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