Laurie R. Santos & Tamar Gendler: Knowing is Half the Battle

The irony is that knowing that the G.I. Joe Fallacy is a fallacy is—as the fallacy would predict—less than half the battle. As is knowing that people tend to experience $19.99 as a significantly lower price than $20.00. Even if you know about this left-digit anchoring effect, the first item will still feel like a significantly better deal. Even if you know about ego depletion effects, the prisoner you encounter after lunch will still seem like a better candidate for parole. Even if you kn...