An unpublished statistics book - tom's webpage

He cites the classic example (Thaler, 1980; Darke and Freedman, 1993) of a person who exerts more effort to save $5 on a $25 radio than on a $500 TV. It’s the same $5. (See also Chen & Rao, 2007, for comparable examples.) Fascinating stuff. Freedman, Pisani, & Purves (2007). ................
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