Richard Shotton
speaker
1,228 appearances
5 recordings
4 series
first heard Jan 2026
last heard 27 Jun
Richard Shotton’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 5 in all, peaking in Jun 2026 with 3.
Appearances
So it's not just that Apple applied this principle of optimal newness very well.
It's that they kept on applying it in the right way throughout their product lifecycle.
Yeah.
Of all the studies, this is one that's probably been around the longest.
And you are right to agree.
If I was to show you two products, one for $10 and then the same thing for $9.99, and I asked you directly, you know, which of these prices would you prefer?
Which would really change your behavior?
You'd probably say, oh, you know, they're almost the same.
It wouldn't affect me.
But that's not how we experience prices in a shop.
We just see one of those prices.
And because people are cognitive misers, because they are trying to make quick decisions, what happens is when they see $10, they just remember that price is $10 something.
When they see $9.99, they think of it as nine something.
So rather than demand going up by a tiny, what would it be, 0.1%, it actually goes up by something like 10 or 15%.
It's far more of this kind of stepped effect on demand than pure logic would suggest.
So it's often known as this left-hand digit bias.
But the argument, I think, with the Haagen-Dazs is what we expect affects our actual experience for products.
We talked about it right at the beginning with the healthy food label.
You have an assumption that something is healthy.
You assume it's going to be worse tasting.
Showing 1101–1120 of 1,228 · page 56 of 62
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