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Money · Guided lesson

Expose a price anchor with an independent comparison

About 7 minutes · 3 reading + 4 practice and checks
Time includes reading, practice, and questions. Extra videos or further study are optional.
See this course’s project requirements

An original financial decision-case comparison and rule test covering anchored prices, sunk costs, recurring charges and delayed spending with a prewritten decision rule.

Keep your working files in your own notebook or software. Save a private description, checklist, and work link in My Proof.

What to include

  • A controlled price-anchor comparison and choice explanation.
  • A sunk/avoidable cost decision table.
  • A twelve-month price comparison and crossover calculation.
  • A dated value-comparison record and access-constraint note.
  • A framed-choice comparison with explicit design limitations.
  • A complete financial decision-case comparison and rule-retest log.

Review and revise

Use these criteria to check your work and choose what to improve.

  • All supplied records reconcile and the decision uses the named case rules.
  • Calculations show units, intermediate values and a second check.
  • Changed-input practice revises the affected result and identifies uncertainty.
  • The final project combines six lesson records, separates fictional assumptions from current rules, and states a supported next step.
Open the full course project
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Before you begin

The idea in everyday life

This is an original fictional practice case. No account, payment, personal record or outside participation is required. Same qualifying desk lamp: shop A says was $100, now $70; shop B sells it for $60; both delivered, no tax/fee difference in this exercise.

The idea

A crossed-out reference price is an anchor, not evidence of value; compare equivalent current alternatives.

Follow along

Expose a price anchor with an independent comparison — worked practice

A crossed-out reference price is an anchor, not evidence of value; compare equivalent current alternatives.

Use paper or a local table; label all amounts as fictional USD unless the case names another unit. Same qualifying desk lamp: shop A says was $100, now $70; shop B sells it for $60; both delivered, no tax/fee difference in this exercise.

Independent current-price comparison

Paste at A1.

AShopBPromotional anchor USDCCurrent delivered USDDQualification
A10070Same required lamp
BNot stated60Same required lamp

Copy as plain text
  1. 1. Step 1: Record the actual current delivered prices

    Record the actual current delivered prices.

    You should see: A $70; B $60.

    A crossed-out reference price is an anchor, not evidence of value; compare equivalent current alternatives.

  2. 2. Step 2: Compute the advertised discount separately

    Compute the advertised discount separately.

    You should see: A claims $30 below its stated $100 reference.

    Keep this intermediate result so the final decision can be checked.

  3. 3. Step 3: Compare the actual equivalent alternatives

    Compare the actual equivalent alternatives.

    You should see: B is $10 cheaper than A.

    Keep this intermediate result so the final decision can be checked.

  4. 4. Step 4: Record the controlled choice

    Record the controlled choice.

    You should see: Under price-only case conditions choose B; the claimed anchor does not make A the best offer.

    Keep this intermediate result so the final decision can be checked.

Now change one thing

B’s delivered price becomes $65. A’s extra cost?

Your work

What to finish

A controlled price-anchor comparison and choice explanation.

Common mistake

Watch for this

Using the largest advertised discount instead of the lowest qualifying total price.

How can I tell I understand it?

Compare equivalent current offers while separately recording an advertised reference price on the supplied changed case while preserving the stated rule and checking the final record.

Try 3 questions

Quick knowledge check

Answer all 3 questions. Get at least 2 right and the lesson completes automatically.

Not yet passed

You’ll get an explanation for each answer. Signed in? Your results save to your account.

1Same item: was $150 now $90 versus a qualifying $80 current offer. Current price difference?
2What makes this an anchor test rather than ordinary price subtraction alone?
3A lower-price item has a different safety specification. What should happen?
0 of 3 answeredApply the lesson to a short question, then review the explanation.
1
Finish this lesson

Pass the check. We’ll save the progress.

Answer all 3 questions above and get at least 2 right. You can review the explanations and try again.

Go to the knowledge check
Tools, templates, and lesson sources

Tools and templates

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Sources and further reading

Explore the references behind this lesson.

Federal Reserve Education — Keys to Understanding Cognitive Biases
Source & access notes · checked 2026-10-01

Official page opened/read during Money expansion authoring; checked the relevant concept and access state. These sources do not establish funding eligibility.

Access: Official resource page and its readable overview/transcript inspected; no external LMS lesson or media playback is claimed.

Reuse: Original fictional practice, questions and calculations; paraphrased concepts with a source link. No source exercise copied.

Federal Reserve Bank of St. Louis — The Anchoring Effect
Source & access notes · checked 2026-10-01

Official page opened/read during Money expansion authoring; checked the relevant concept and access state. These sources do not establish funding eligibility.

Access: Readable official webpage inspected with the web reader on 2026-10-01. No interactive-tool operation is claimed.

Reuse: Original fictional practice, questions and calculations; paraphrased concepts with a source link. No source exercise copied.

Federal Reserve Education — Behave Yourself! Behavioral Economics for Kids
Source & access notes · checked 2026-10-01

Official page opened/read during Money expansion authoring; checked the relevant concept and access state. These sources do not establish funding eligibility.

Access: Official resource page and its readable overview/transcript inspected; no external LMS lesson or media playback is claimed.

Reuse: Original fictional practice, questions and calculations; paraphrased concepts with a source link. No source exercise copied.

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