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Adarsh
Hey I am on Medial • 7m
we don't evaluate things in isolation-we judge value by comparison rather than by an absolute standard. Why Does This Happen? 1. Relativity Bias - We compare options rather than assessing their true worth. A 1000 pen might seem expensive, but if placed next to a 5000 pen, it suddenly feels reasonable. 2. Anchoring Effect - Our decisions are influenced by the first piece of information we see. Example: A product originally priced at 5000 but "discounted" to 250 feels like a great deal, even if 2500 is its true value. Social Comparison – We determine our success, wealth, or happiness based on others. Example: A 1 crore salary feels impressive until you find out your colleague earns 2 crores.
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