Denomination effect

The denomination effect is a theoretical form of cognitive bias relating to currency, whereby people are less likely to spend larger bills than their equivalent value in smaller bills. It was proposed by Priya Raghubir and Joydeep Srivastava in their 2009 paper "Denomination Effect".

Denomination effect

The denomination effect is a theoretical form of cognitive bias relating to currency, whereby people are less likely to spend larger bills than their equivalent value in smaller bills. It was proposed by Priya Raghubir and Joydeep Srivastava in their 2009 paper "Denomination Effect".