In at least one respect, Capuchin monkeys are smarter than humans — they don’t assume a higher price tag means better quality, according to a new Yale study appearing in the open-access journal Frontiers in Psychology.
People consistently tend to confuse the price of a good with its quality. For instance, one study showed that people think a wine labeled with an expensive price tag tastes better than the same wine labeled with a cheaper price tag. In other studies, people thought a painkiller worked better when they paid a higher price for it. (more…)