The $20 Prize That’s Worth More Because it Coulda Been $10


New research shows that uncertainty makes a reward more desirable. Imagine two people each receive a $20 gift card. One is simply handed the card. The other spins a prize wheel offering $10, $20 or $30, and happens to stop on $20. Both got the same card, and the exact same value. But the second person likes theirs MORE. That’s the cool finding from new research involving seven preregistered experiments and more than 12,000 participants. The researchers call it the “uncertainty spillover...