Which center orange dot is bigger?
Research is digging into consumer psychology that affects buying/selling decisions. Behavioural economist Dan Ariely provides this example (as summarized by blogger Robert Nielsen) to make a point about relativity:
A real estate agent offers to sell you three houses. The first is a contemporary house, while the second one is a colonial house whose roof needs a repair (and is therefore cheaper) and the third is a colonial house that is in good condition. Ariely argues that a buyer would choose the colonial in good condition for an irrational, but predictable reason. S/he has nothing to compare the contemporary house with, so it gets pushed to the side. On the other hand we do know that the colonial with a good roof is better than the other one, so it is relatively the better pick.
And by the way, the orange dots are exactly the same size. The use of surrounding dots makes one relatively bigger and the other relatively smaller.
Interesting! Thanks to Extraordinary Moments in the Real Estate Experience for this great information!
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