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
Left-digit bias is a phenomenon where you put more emphasis on the leftmost digit of a price. As an example, the actual difference between $10.00 and $9.99 is only one cent. However, with left-digit bias, you focus on the $10 and $9, ignoring the.99, and perceiving a greater difference in price than there actually is.
Why this bias exists is for the same reason all our other cognitive biases exist: we process information emotionally before we think about it rationally. And even then, our rational mind musters facts to create a *post hoc* justification for our emotional reaction.
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