Question: Subscription boxes are all the rage these days. Subscribers pay a small fee and receive a box each month containing music, clothing, electronics, food -
Subscription boxes are all the rage these days. Subscribers pay a small fee and receive a box each month containing music, clothing, electronics, foodyou name it A teenager named Juliette signed up for a subscription makeup box, telling her mother, It won't cost you much at all. I'll just send back any items that I don't want; you only pay for the items you keep!"
What systematic biases is the subscription box service exploiting to get Juliette to buy more makeup than she would if she were shopping in a store.The endowment effect
The sunk cost fallacyHyperbolic discounting
Overconfidence
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