24 DEC 2013 by ideonexus

 Rounded Numbers are Cultural Attractors

Rounded numbers are cultural attractors: They are easier to remember and provide better symbols for magnitudes. So we celebrate twentieth wedding anniversaries, hundredth issues of journals, the millionth copy sold of a record, and so on. This, in turn, creates a special cultural attractor for prices, just below rounded numbers—$9.99 or $9,990 are likely price tags—so as to avoid the evocation of a higher magnitude.
Folksonomies: culture mathematics powers
Folksonomies: culture mathematics powers
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Dan Sperber on why we like rounded numbers.