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Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1]
Social exchange theory is a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits. The theory also involves economic relationships—the cost-benefit analysis occurs when each party has goods that the other parties value. [ 1]
Within sociology more broadly—the field of origin— reflexivity means an act of self-reference where existence engenders examination, by which the thinking action "bends back on", refers to, and affects the entity instigating the action or examination. It commonly refers to the capacity of an agent to recognise forces of socialisation and ...
Macrosociology is a large-scale approach to sociology, emphasizing the analysis of social systems and populations at the structural level, often at a necessarily high level of theoretical abstraction. [1] [2] Though macrosociology does concern itself with individuals, families, and other constituent aspects of a society, it does so in relation ...
The field of social dynamics brings together ideas from economics, sociology, social psychology, and other disciplines, and is a sub-field of complex adaptive systems or complexity science. The fundamental assumption of the field is that individuals are influenced by one another's behavior. The field is closely related to system dynamics. Like ...
e. The bandwagon effect is a psychological phenomenon where people adopt certain behaviors, styles, or attitudes simply because others are doing so. [ 1] More specifically, it is a cognitive bias by which public opinion or behaviours can alter due to particular actions and beliefs rallying amongst the public. [ 2]
Sociometry. Sociometry is a quantitative method for measuring social relationships. It was developed by psychotherapist Jacob L. Moreno and Helen Hall Jennings in their studies of the relationship between social structures and psychological well-being, and used during Remedial Teaching.
Behavioral strategy refers to the application of insights from psychology and behavioral economics to the research and practice of strategic management. In one definition of the field, "Behavioral strategy merges cognitive and social psychology with strategic management theory and practice. Behavioral strategy aims to bring realistic ...