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Psychological pricing
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===In financial markets=== Left-digit effect has also been shown to influence stock-market transactions. Bhattacharya, Holden, and Jacobsen (2011) examined the left-digit effect in stock market transactions. They found that there was excess buying at just-below prices ($1.99) versus round numbers ($2.00) right above them. This discrepancy in buy-sell can lead to significant changes in 24-hour returns that can meaningfully impact markets.<ref>Bhattacharya, Utpal and Holden, Craig W. and Jacobsen, Stacey E., Penny Wise, Dollar Foolish: Buy-Sell Imbalances On and Around Round Numbers (30 March 2011). Management Science 15, 413-431, 2012.. Available at SSRN: https://ssrn.com/abstract=1569922</ref>
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