Business, 28.04.2021 01:00 winterchadrick

An article in the New York Times about J. C. Penney's pricing strategy under former CEO Ron Johnson observes: "Penney had pulled up the anchor, only to see many of its customers sail away." Source: Stephanie Clifford and Katherine Rampell, "Sometimes We Want Prices to Fool Us," New York Times, April 13, 2013. In behavioral economics, an "anchor" is A. linking the price of one product to another product. B. relating an unknown value or price to another similar known value or price. C. setting the highest possible price for a product. D. setting the lowest possible price for a product.

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An article in the New York Times about J. C. Penney's pricing strategy under former CEO Ron Johnson...

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