Our decisions are influenced by relativity from "summary" of Predictably Irrational, Revised by Dan Ariely
The concept of how our decisions are influenced by relativity is a fascinating one. It suggests that our judgments are not made in isolation, but rather are greatly influenced by the context in which they are made. This means that the same option can appear more or less attractive depending on what other options are presented alongside it. For example, imagine you are given the choice between two different laptops. One is a basic model priced at $500, while the other is a more advanced model priced at $1,000. At first glance, you may be tempted to choose the cheaper option. However, if a third laptop is introduced into the mix - a top-of-the-line model priced at $2,000 - suddenly the $1,000 laptop seems like a much more reasonable choice. This phenomenon is known as the anchoring effect, where our decisions are "anchored...
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