Misc
The Psychology of Prices
The Psychology of Prices
The fascinating infographic we share today focuses in on the psychology of pricing strategy.
In other words: do the actual pricing options provided to a consumer influence overall buying behavior? It turns out the answer to that is a “yes”, and studies show that the extent to which it is a factor in buying decisions is actually very significant.
Aside from just being interesting information, we reckon that there is a parallel with finance and investing as well that may be worth a look.
Investors, like customers, like to get value with what they buy. That’s why, ultimately, the option they choose is a reflection of the prices offered to them as well as the perceived value of each option.
This “perceived value” changes based on the options offered. For example, when potential customers are offered only two subscription options for The Economist (web-only or web + print), only 32% of students would take the more expensive web + print edition. However, when a “decoy” option was added in, offering the print-only edition at a similar price, the amount of web + print subscriptions jumped from 32% to 84%.
What biases do investors or speculators have towards securities that are perceived to have “value” in a given instance?
This is a question worth some self-reflection, because sometimes investors can be their own worst enemies.
Original graphics by: Blog-Growth
Misc
How Hard Is It to Get Into an Ivy League School?
We detail the admission rates and average annual cost for Ivy League schools, as well as the median SAT scores required to be accepted.
How Hard Is It to Get Into an Ivy League School?
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Ivy League institutions are renowned worldwide for their academic excellence and long-standing traditions. But how hard is it to get into one of the top universities in the U.S.?
In this graphic, we detail the admission rates and average annual cost for Ivy League schools, as well as the median SAT scores required to be accepted. The data comes from the National Center for Education Statistics and was compiled by 24/7 Wall St.
Note that “average annual cost” represents the net price a student pays after subtracting the average value of grants and/or scholarships received.
Harvard is the Most Selective
The SAT is a standardized test commonly used for college admissions in the United States. It’s taken by high school juniors and seniors to assess their readiness for college-level academic work.
When comparing SAT scores, Harvard and Dartmouth are among the most challenging universities to gain admission to. The median SAT scores for their students are 760 for reading and writing and 790 for math. Still, Harvard has half the admission rate (3.2%) compared to Dartmouth (6.4%).
| School | Admission rate (%) | SAT Score: Reading & Writing | SAT Score: Math | Avg Annual Cost* |
|---|---|---|---|---|
| Harvard University | 3.2 | 760 | 790 | $13,259 |
| Columbia University | 3.9 | 750 | 780 | $12,836 |
| Yale University | 4.6 | 760 | 780 | $16,341 |
| Brown University | 5.1 | 760 | 780 | $26,308 |
| Princeton University | 5.7 | 760 | 780 | $11,080 |
| Dartmouth College | 6.4 | 760 | 790 | $33,023 |
| University of Pennsylvania | 6.5 | 750 | 790 | $14,851 |
| Cornell University | 7.5 | 750 | 780 | $29,011 |
*Costs after receiving federal financial aid.
Additionally, Dartmouth has the highest average annual cost at $33,000. Princeton has the lowest at $11,100.
While student debt has surged in the United States in recent years, hitting $1.73 trillion in 2023, the worth of obtaining a degree from any of the schools listed surpasses mere academics. This is evidenced by the substantial incomes earned by former students.
Harvard grads, for example, have the highest average starting salary in the country, at $91,700.
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