Times of IndiaLean R·
Why do people overpay for used cars with mileage just below round numbers?
A recent study showed that used car dealers profit from mileage readings just under round-number thresholds. The researchers analyzed millions of transactions to determine pricing impacts of left-digit bias. Buyers often overlook minor differences in mileage, focusing instead on the first digit. This inattention allows dealers to charge more for cars that appear to be better value.
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