Research in the News
Prof. Priya Raghubir's research finds people spend more when carrying cash in smaller denominations
— January 26, 2012
Excerpt from TIME -- "Raghubir and Srivastava’s results—what they’ve described in previous research as the 'denomination effect'—are consistent with an idea we’ve discussed several times: mental accounting. Small bills tend to get assigned to something like a mental petty cash account, and so we’re willing to spend them on petty things."