Today's Tidbit: More Is Less

More Is Less

There are two sets of baseball cards:

  • A = Contains 7 top players.
  • B = Contains the same 7 top players, plus 3 so-so players.

There are also three groups of people who are going to bid on them:

  1. Shown both A and B and asked to bid for them separately.
  2. Shown only A and asked to bid for them.
  3. Shown only B and asked to bid for them.

Not surprisingly, Group 1 bid higher for B than A. The more the merrier, right? What is surprising is that Group 2 bid higher for A than Group 3 bid for B. Why?

The claim is that the set of so-so players tarnishes the value of package. So, if you're a baseball player and want to look good to collectors, hit more home runs.

Reference

  • John List, "Preference Reversals of a Different Kind: The 'More is Less' Phenomenon"

Get the latest from WonderHowTo on Facebook, Twitter, Pinterest, and Flipboard

Be Smarter Than Your Smartphone

Get Gadget Hacks' newsletter

Be the First to Comment

Share Your Thoughts

  • Hot
  • Latest