Question

20. When studying the psychophysics of pricing, Thaler concluded that that buyers search for prices until the expected saving amount is a _ of the total price equals some critical value. a. Half b. Whole c. Proportion d. Cost is less than visiting an additional store e. All of the above

Answer 1

Study of quantitative relationships between psychological and physical events, or more precisely, between sensations and the stimuli that cause them, is known as psychophysics.

What is the first psychological law?

Fechner (1860), who demonstrated how internal, intensive scales can be rebuilt if there is 1) a relationship between just detectable differences (JNDs) and increments in subjective intensity, proposed the first psychophysical law, the relationship between physical and subjective intensity.

Who was a proponent of psychophysics?

The Law Weber-Fech, experimental psychology, the transformation of psychology into a quantitative discipline, and Gustav Fechner's development of psychophysics (for which he is also referred regarded as its "father") are what have made him most well-known. He was 86 years old when he died in 1887. He was born in the year 1801.

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