Bo Solomon

History

8 March, 20:24

Scenario 1

Carlos is doing his weekly grocery shopping and needs to buy cereal. He turns his cart into the cereal aisle at the store. He sees many different cereals within his price range but notices that some are priced higher than others. He chooses a cereal he recognizes from a TV commercial, even though it's slightly more expensive than he expected.

Scenario 2

Evelyn wants to purchase a plane ticket to visit her sister in London. She's been checking prices frequently the past few days and notices that prices aren't falling as she anticipated. She also notices that despite five airlines flying to London from the city she lives in, the prices of the tickets are all the same. She eventually decides not to go because the prices are too high for her budget.

What affected the purchasing decisions in these two scenarios?