This is 'new' to him?
Why am I even surprised by this. I mean...I should expect this complete lack of common sense. The concept of psychological pricing has been researched for decades in marketing, behavioral econ, and psychology literature. The fact that an economist who is suppose to understand how consumers make decisions with prices has little/no knowledge of this kind of research is just so astounding to me - it makes me so pissed off because it just provides that much more evidence that many of our mainstream economists just really don't care about reality, at all.
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