Skip to content
Skip to main content

About this free course

Download this course

Share this free course

Managing my money
Managing my money

Start this free course now. Just create an account and sign in. Enrol and complete the course for a free statement of participation or digital badge if available.

3.2.5 Heuristics and spending

One reason why people sometimes pay higher prices for certain goods and services is that they think a higher price equates to higher quality. The price of a product is often used as a mental short cut to assess quality. Such short cuts are called heuristics and they’re used to help assess situations when there’s limited information available.

Download this video clip.Video player: ou_futurelearn_money_vid_1054.mp4
Copy this transcript to the clipboard
Print this transcript
Show transcript|Hide transcript
Interactive feature not available in single page view (see it in standard view).