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
Demographics
Mapped: Population Growth by Region (1900-2050F)
In this visualization, we map the populations of major regions at three different points in time: 1900, 2000, and 2050 (forecasted).
Mapping Population Growth by Region
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.
In fewer than 50 years, the world population has doubled in size, jumping from 4 to 8 billion.
In this visualization, we map the populations of major regions at three different points in time: 1900, 2000, and 2050 (forecasted). Figures come from Our World in Data as of March 2023, using the United Nations medium-fertility scenario.
Population by Continent (1900-2050F)
Asia was the biggest driver of global population growth over the course of the 20th century. In fact, the continent’s population grew by 2.8 billion people from 1900 to 2000, compared to just 680 million from the second on our list, Africa.
Region | 1900 | 2000 | 2050F |
---|---|---|---|
Asia | 931,021,418 | 3,735,089,775 | 5,291,555,919 |
Africa | 138,752,199 | 818,952,374 | 2,485,135,689 |
Europe | 406,610,221 | 727,917,165 | 704,398,730 |
North America | 104,231,973 | 486,364,446 | 679,488,449 |
South America | 41,330,704 | 349,634,344 | 491,078,697 |
Oceania | 5,936,615 | 31,223,133 | 57,834,753 |
World 🌐 | 1,627,883,130 | 6,149,181,237 | 9,709,492,237 |
China was the main source of Asia’s population expansion, though its population growth has slowed in recent years. That’s why in 2023, India surpassed China to become the world’s most populous country.
Southeast Asian countries like the Philippines and Indonesia have also been big drivers of Asia’s population boom to this point.
The Future: Africa to Hit 2.5 Billion by 2050
Under the UN’s medium-fertility scenario (all countries converge at a birthrate of 1.85 children per woman by 2050), Africa will solidify its place as the world’s second most populous region.
Three countries—Nigeria, Ethiopia, and Egypt—will account for roughly 30% of that 2.5 billion population figure.
Meanwhile, both North America and South America are expected to see a slowdown in population growth, while Europe is the only region that will shrink by 2050.
A century ago, Europe’s population was close to 30% of the world total. Today, that figure stands at less than 10%.
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