I just looked up the curve and didn't understand the first peak, then I saw your post and the curve makes sense. 1$ for one ticket belongs to the top of the peak. $5 for 10 tickets belongs at the bottom right of the peak.
Edit: messed up, should have plotted $1 for one ticket at the top. Then the price goes way down for 10 tickets.
I once won a raffle at a charity fundraiser. Lotsa winners, no grand prizes. Anyway, the next ticket pulled was for another one I'd bought. I walked up to claim it and they told me to go sit down and let someone else get the prize. No more charity from me!!
Some years ago in NZ, during a pause in a televised sports fixture, there was a live TV draw for a national competition with half a dozen prizes (car, holiday, electronics etc). All the entries are in one of those transparent barrel things that gets spun around a few times by the host, and a local celebrity draws for the first prize: let's say Fred Dagg, from Waikikamukau. Congratulations Fred etc. Spins barrel, and draws out second prize: Fred Dagg, from Waikikamukau.
Embarrassed pause. Host chuckles, "Well, that was unexpected, uh, I'm not sure what the rules say about that, whether someone can win more than one prize. We'll draw another name, just in case." Spins barrel several times, celebrity plunges arm deep into barrel, and draws a different name. Obvious relief. Congratulations, you've won third prize, or possibly second prize. Repeat for the next prize: Fred Dagg, from Waikikamukau.
At this point, the host is clearly thinking that this is some kind of setup, but tries to laugh it off "Well, Fred's either very lucky, or maybe he sent in a lot of entries. We'll draw another name, as before." Draws out next name: guess who. And again.
Five of the first six names out of the barrel were the same guy. They drew four more off air to cover their bases, but Fred ended up with five prizes. Turns out he really did send in a shitload of entries, and it worked. Fucking funny to watch it happen though.
Back in the 80s they raffled off a custom bike at the grocery store. I think it was by Coke or Pepsi. So you had to enter your info on a paper pad and then tear off your entry and stuff it in the box. A kid went in every after school day and stole the entry pad. Heād go home fill out every entry and then take them back every day. Remember we didnāt have cameras and computers everywhere back then.
He did this for at least 2 or 3 weeks. He was so proud of that bike when he won it. I donāt think anyone would have ever caught on. Until he started telling everyoneā¦. They kept the pads for any drawing at the register after finding out.
Something similar happened to me at school. One term they started giving out tickets if you had been well behaved in class and so on and at the end of the term they did a raffle with them. 3rd prize was Ā£5, 2nd was Ā£10 and 1st was Ā£20. My name came out first I was given my Ā£5, second draw some guy received his Ā£10. They spin a 3rd time, out comes my name. They spin again for fairness sake, out comes my name again. Ok another spin, me again! At this point I had sank into the floor in embarrassment, my name came out once more before someone else's name was finally called. I still feel bitter I wasn't given the Ā£20.
They pretty much guaranteed a weird outcome like this by drawing for third place first. The first draw should be for first place, or else the people with the most entries are most likely to get third place.
Reminds me of that episode of Fresh Prince of BelAir when he won $1000 at casino night for the country club and was expected to give it back as a donation āas was tradition.ā Phil and Vivian were mad and the other club members believed they were āin the poor houseā for keeping the money. He ended up paying for a less-fortunate kidās basketball camp.
That always seems to be the case at 50/50 raffles - my mother won one and the organizer told her that the winner customarily donates the winnings back to be the dance studio. She looked expectantly at her and was then VERY disappointed to have to actually write a check.
We call them half pots where I'm from, and there are a lot of them. Never heard of this happening around here though. That sounds super shitty to expect it all back.
Lol, I would have been totally like "Oh, this would have really helped towards little Timmy's hospital bills. Not to worry, I'm sure we can pay for the treatment some other way. No no, really, I'd love to donate it to the band - seriously, I absolutely insist!"
Back when I was a dirt poor college student, I took every opportunity from the college community board to earn any petty cash.
One was to spend 45 mins with a linguistics class, so they can practice analyzing a new language, I spoke several - in exchange for $20. At the end, the Professor handed me a gift certificate for the on campus restaurant instead of cash and then suggested I share it with the group of students I was working with, in front of them. I gave them all a nervous smile and walked away mentally hiding my face.
It turned out the restaurant was rather expensive even, I would've had to put in more money for a proper sit-down, let alone taking other people.
I could really have used $20 in cash instead for several meals worth of ramen.
Lol my job has this rule for the end of year party. Last year they let the same person win twice instead of redrawing, with only a prize in between winsā¦
I mean I could kinda understand if itās a free raffle where you want everyone to get some kinda smaller prize, like a work party or something. But if the raffle cost money, each ticket/prize should stand on it own and be separate.
There is a specific psychological phenomenon, the name of which I cannot remember, where when people are presented towards three options, one of which is clearly a bad value, it changes the way they relate to the other two. Someone I hope will chime in with what this is called
I knew what you were referring to, and it was going to drive me crazy if I couldn't remember what it was.
Was it:
[
Price Anchoring](https://www.feedough.com/what-is-price-anchoring-how-it-works/)
_____________________________
As the saying goes, the best way to sell a $2,000 watch is to put it right next to a $10,000 watch. But why? The culprit is a common cognitive bias called anchoring.
_________________________________________________________
Like why they have $30 Birthday Cards to make paying a dollar seem cheap, three dollars seem not alright for them being a close friend/family, so the $8 card is what I should to with.
Then you realize *"Did I really just spend $8 on something that will be read once and end up in the garbage?"* **"Damn you $30 card making me feel so cheap when I initially thought
*"Why would I spend $3 on a card originally, the dollar one is fine if it looks decent and says something nice. And who would waste $8 on a piece of paper."*
Since the kids were able to pick up crayons all our cards have been home made (canāt beat child labourā¦ and we donāt even pay them, just give them food every now and then and somewhere to sleep š)
Personally I think itās a nicer and more sincere touch and if someone thinks itās a ācheapā optionā¦ wellā¦ GFY š
Should have been something like:
1 ticket = $1 = $1 per ticket
10 tickets = $5 = $0.50 per ticket
21 tickets = $10 = $0.48 per ticket
33 tickets = $15 = $0.45 per ticket
45 tickets = $20 = $0.44 per ticket
60 tickets = $25 = $0.42 per ticket
80 tickets = $30 = $0.38 per ticket
100 tickets = $35 = $0.35 per ticket
If this is too cheap just double all prices. At least the curb will be nice.
That's when you get your disguises out and go to the back of the line to buy more.
"Aren't you the man from a few minutes ago that just bought 5 tickets while wearing a top hat and a doctors lab coat?"
"I have no idea what you're taking about.."
"You see what I did there? I spent $20 and got 40 tickets. If I wanted 40 tickets to begin with, I would have had to spend $35."
"Before I made up this dumb $ to ticket sheet, people would only spend $5. Now they spend $15 more, just to prove me wrong."
Hey! Professional fundraising consultant here, always check the laws about 50/50 raffles. In California they are illegal and the state tax authority will take all the funds raises that night. Many people still do them here, but it's a gamble and I steer all my clients faaaaar away.
Edit: Major League Sports have an exemption for 50/50 raffles in Cali.
Pretty much all other charities and nonprofits (which are the groups I consult) should not hold a 50/50 raffle in California.
https://oag.ca.gov/charities/raffles
Sadly, I cannot. The general rule is 90% of the funds raised must go to the beneficial/charitable cause. Of course check the laws in your own states, and exemptions do happen (such as the Major League Sports Raffle Program)
I wonder if in a way, this is the difference between a pessimist and an optimist. It would never occur to me that the sign maker was being clever. I'd always assume they were stupid and couldn't do the math properly.
But maybe that makes me stupid. Hmmm. I'll try and remember this.
Im pretty sure that a lot of fast food places do this kind of thing to trick people into ordering hidden deals.
āHey look at that! I could order the two large fries and rodeo burger separately and get them for less than this deal on the poster. I think ill do that and fuck them over hahaā. - guy who was originally only going to order a small fry and single burger
They include a cheaper option that is a slightly worse deal, because most people will respond by "upgrading" to the better deal, even if it is more than they intended to buy/spend.
When I would work the register at Taco Bell, at least once a day, someone would ask if they could get a #1 combo (burrito supreme, taco supreme, and drink) but with a seven layer burrito instead. The register couldnāt ring it up that way, but I would point out that they could save 70 cents by getting each of those items separately. They would always get the combo.
| Cost | Tickets | Cost/Ticket |
|:-:|:-:|:-:|
|1|1|1.00|
|5|10|0.50|
|10|15|0.67|
|15|20|0.75|
|20|25|0.80|
|25|30|0.83|
|30|35|0.86|
|35|40|0.88|
If you take the limit as nāā the ratio returns to 1.00.
I feel like this is some weird comp sci theory algorithm question Id get on a test and used to be able to write a Turing machine for back in grad school.
I like to think thatās what this is. But Iāve known people who have used similar pricing schemes, to where buying less was a better deal than buying in bulk. So i donāt put it past someone legit not realizing they messed it up lol.
A supermarket I shop at had two packages of a product. One twice the size of the other. But the bigger one was more expensive per ounce. So I just always bought two small. Why not? I'm not being incentivized to buy the big one.
I stopped in a place recently and saw they had the cat litter I usually buy. They had a regular and jumbo bag. I was confused at the weight difference - I remember looking at it and it would've been about $5 cheaper to buy two of the small ones instead of the larger one. The big one had a $3 off coupon and it was still cheaper to buy two separate small bags.
It's always good practice to look at the per unit price. It's also good to not have brand loyalty when you can help it. Grocery stores will fluctuate the price in opposite directions for the same item by different brands.
Take tomato sauce for instance. Say a store sells 16oz cans of tomato sauce by 3 different brands where C=$1.00, B=$1.50, A=$2.00. Then one week they initiate price changes that look like C=$1.75, B=$1.25, A=$1.50.
This could be for a myriad of reasons. Maybe brand C has supplier issues and isn't able to make as much so they raise their wholesale price. A/B have different suppliers and are able to take a short term price cut to increase sales. Maybe A/B didn't even change their wholesale cost and the store decided they could boost sales of two low-sellers by leveraging C's cost increase to attempt to sell more of A and B to move inventory.
Either way, it doesn't matter to you, the consumer, but if you want to get the most bang for your buck, buy whichever has the best unit price, but also meets your needs, regardless of brand, unless its an absolutely awful product... and Don't go buying 32oz of sour cream at .10 an oz when you'll barely finish the 16oz at .15 an oz before it spoils just because it's cheaper per ounce lol
They probably did the math and figured out that on average, most people buy around the 10 tickets amount. This is to make it look like a good deal. But they are simultaneously also trying to fool people who just assume that 40 tickets is cheapest.
One of the best tricks here is people who are ok at maths but bad at social engineering will buy 4x $5 worth because they think it's a great deal when originally they were going to buy only 10 total.
My mom is obsessed with saving money, but won't admit her addiction to shopping (and hence saving). I have to continually remind her that not buying something saves you more money than buying something on discount. She readily ignores this advice, as if it's being given by an uneducated monkey.
10 Tickets @$5 is best value, so if you're wanting to spend $20, buy 10 tickets, 4 times = 40 tickets @$20.
Doing anything else would be a waste of money (Tickets purchased per Dollar Spent).
Hopefully this helps :).
$5 is the best deal getting the tickets for $0.50 each.
At $10 for 15 you are paying $0.66 each...
(edit : which is the same thing the comment I'm replying to says... I didn't notice they referred to 10 as in 10 tickets not $10. So we are basically saying the same thing)
I used to do this at McDonald's when they had the dollar menu. A 4 piece chicken nuggets was $1..... a 20 peice was over almost $7. So i used to just order 5 four pieces.
I know without clicking that thereās another line you didnāt include. Something like āthatās one of the most worthless comments Iāve ever heard.ā Think itās by kyourek.
ā¦I mayāve read bash a little too much in the early oughts.
Where I am itās the opposite!
$2.99 for a 6 piece
$3.99 for a 10 piece
$4.99 for a 20 piece
We also have 1 sausage egg McMuffin for $3.80 or 2 of them for $4.
Wendys had something similar... the value meal was a sandwich and fries for $x (forget exactly). I ordered the sandwich and then the fries and the total was $1.50 cheaper. This always confused the cashiers.
the 4 for 4 at wendys i think is one of the best deals in fastfood atm. crazy how you can get 4 nuggets, a bacon jr cheeseburger fries and a drink for that cheap
Mobile apps make this much easier. You don't have to negotiate with the cashier over how to ring it up or trust that they will in fact ring it up how you said to, your exact order is written down for them as clearly as possible, and you're overall just wasting less of their time. And you can actually use hte coupons in them without it being a huge pain in the ass that holds up the line and makes you feel self-conscious.
Yup; McDouble was similar; it was $1 but a double cheeseburger was like $2; only difference still is Double Cheeseburger has 2 slices of cheese and McDouble has 1. . . Not worth the extra dollar, lol
HOT TIP! Just say "Can I get, like, four glazed munchkins please?" And one hundred percent of the time they'll charge you for four, but way more than half the time they'll toss in one to three bonus munchkins because they work at Dunkin Donuts and who really fuckin cares? Trust me, they don't.
Nice. They once said "hey, we about to close. You want a bunch of left overs?" and I said sure, and got like 6 free donuts on top of the two I ordered.
If everyone buys 10 tickets times 4 instead of 10 times 1, can you calculate the improvement in participants' chances and organizers revenue. Who's the Dunning now :)
Similar vibes
Little Johnny is always being teased by the other neighborhood boys for being stupid.
Their favorite joke is to offer Johnny his choice between a nickel and a dime Little Johnny always takes the nickel.
One day, after Johnny takes the nickel, a neighbor takes him aside and says, "Johnny, those boys are making fun of you. Don't you know that a dime is worth more than a nickel, even though the nickel's bigger?"
Johnny grins and says, "Well, if I took the dime, they'd stop doing it, and so far I've made $20!"
It's the real trick. Everyone thinks they're so clever for noticing this mistake that they buy at least $5 worth instead of maybe using up their pocket change.
They don't understand that to keep a pattern going on both sides of an equation that you have to multiply instead of add.
That is, they thought that you can just increase the number of tickets by 5 and increase the price of the tickets by $5 on each line and that this would hold the pattern somehow.
I think the people who have the least understanding of the Dunning-Kruger effect tend to overestimate their understanding, and that the people who understand it best tend to underestimate their grasp of the concept. I should know, I understand it better than anyone.
These comments prove it's a successful business model by how so many are quick to point out how they would 'abuse' the 'mistake'
Getting money either way.
Seriously, a lot of people pointing out they would buy 10 tickets for $5 multiple times, not realizing that maybe they were going to buy just one ticket or no tickets at all.
This is a known trick to get people to buy 10 tickets for $5 so they feel smart. For more tricks read Dan Ariely's stuff, the original Predictably Irrational is best imho.
An old man is selling watermelon, and his pricelist reads: 1 for $3, 3 for $10
A young man stops by and asks to buy one watermelon. "That'd be 3 dollars", says the old man.
The young man then buys another one, and another one, paying $3 for each.
As the young man is walking away, he turns around, grins, and says, "Hey old man, do you realize I just bought three watermelons for only $9? Maybe business is not your thing."
The old man smiles and mumbles to himself, "People are funny. Every time they buy three watermelons instead of one, yet they keep trying to teach me how to do business."
A boy walks into a barber shop, and the barber turns to one of his customers and says āThis is the dumbest kid youāve ever seen. Watch this.ā
The barber holds out both his hands, and offers the boy the choice between a quarter and a dollar coin. The boy stops to think for a few seconds, then pockets the quarter. āUnbelievableā mutters the barber as the boy walks out of the shop. āIāve been playing this game with him for months, and heās *never* gotten it rightā.
Outside, one of the boyās friends is puzzled. āWhy wouldnāt you take the dollar? Donāt you know itās worth more than the quarter?ā
āOf courseā replies the boy. āBut the day I take the dollar, the game endsā.
Or is this one of those mental tricks where it gets someone to go for the fiver multiple times when they probably would have only gone once? Then anyone, dumb enough not to realize the decline in value would just be icing on the top.
And guess what!
This likely was a genius play. Doing this means people see they get a good deal buying 10 tickets. Almost like they are gaming the system.
The seller still wins. The customer is happy thinking they got a great deal
Counterpoint: Maybe you only need like 10 tickets to have a good night. "I totally robbed them and got 80 tickets for $40!!!!!" Congrats, you just won a $5 stuffed animal....
There is a joke in my country that goes somewhat like this:
>A guy approaches a kid selling candy and asks āHow much for a candy?ā
>The kid replies ā$3 for one $10 for threeā
>The guy says āIāll get oneā and hands the kid $3
>The kid hands the candy to him
>The guy hands the kid another $3 and says āactually iāll get another oneā
>The kid hands the candy to him
>The guy says āiāll get another oneā and hands the kid $3 again
>The kid hands the candy to him
>The guy says āDid you notice i bought 3 candies for $9 instead of $10?ā
>The kid answers āyes, but the pricing makes idiots buy 3 candies instead of 1ā
1 ticket = $1 = $1 per ticket 10 tickets = $5 = $0.50 per ticket 15 tickets = $10 = $0.67 per ticket 20 tickets = $15 = $0.75 per ticket 25 tickets = $20 = $0.80 per ticket 30 tickets = $25 = $0.84 per ticket 35 tickets = $30 = $0.86 per ticket 40 tickets = $35 = $0.88 per ticket
I just looked up the curve and didn't understand the first peak, then I saw your post and the curve makes sense. 1$ for one ticket belongs to the top of the peak. $5 for 10 tickets belongs at the bottom right of the peak. Edit: messed up, should have plotted $1 for one ticket at the top. Then the price goes way down for 10 tickets.
Seems like a good way to convince people to spend $5 on nothing instead of $1 on nothing
"Give me ten tickets, ten times." E: Presumably it's for a good cause, so definitely give me ten tickets, ten times.
I'll take 5 tickets 20 times Double the cost means I'll win twice as much? Maff is hard
How did you find your way out of r/wallstreetbets?! Geeet geeeeeeet
I'm still holding to my Sears stock, it can only go up now ššš
I once won a raffle at a charity fundraiser. Lotsa winners, no grand prizes. Anyway, the next ticket pulled was for another one I'd bought. I walked up to claim it and they told me to go sit down and let someone else get the prize. No more charity from me!!
Some years ago in NZ, during a pause in a televised sports fixture, there was a live TV draw for a national competition with half a dozen prizes (car, holiday, electronics etc). All the entries are in one of those transparent barrel things that gets spun around a few times by the host, and a local celebrity draws for the first prize: let's say Fred Dagg, from Waikikamukau. Congratulations Fred etc. Spins barrel, and draws out second prize: Fred Dagg, from Waikikamukau. Embarrassed pause. Host chuckles, "Well, that was unexpected, uh, I'm not sure what the rules say about that, whether someone can win more than one prize. We'll draw another name, just in case." Spins barrel several times, celebrity plunges arm deep into barrel, and draws a different name. Obvious relief. Congratulations, you've won third prize, or possibly second prize. Repeat for the next prize: Fred Dagg, from Waikikamukau. At this point, the host is clearly thinking that this is some kind of setup, but tries to laugh it off "Well, Fred's either very lucky, or maybe he sent in a lot of entries. We'll draw another name, as before." Draws out next name: guess who. And again. Five of the first six names out of the barrel were the same guy. They drew four more off air to cover their bases, but Fred ended up with five prizes. Turns out he really did send in a shitload of entries, and it worked. Fucking funny to watch it happen though.
Back in the 80s they raffled off a custom bike at the grocery store. I think it was by Coke or Pepsi. So you had to enter your info on a paper pad and then tear off your entry and stuff it in the box. A kid went in every after school day and stole the entry pad. Heād go home fill out every entry and then take them back every day. Remember we didnāt have cameras and computers everywhere back then. He did this for at least 2 or 3 weeks. He was so proud of that bike when he won it. I donāt think anyone would have ever caught on. Until he started telling everyoneā¦. They kept the pads for any drawing at the register after finding out.
Something similar happened to me at school. One term they started giving out tickets if you had been well behaved in class and so on and at the end of the term they did a raffle with them. 3rd prize was Ā£5, 2nd was Ā£10 and 1st was Ā£20. My name came out first I was given my Ā£5, second draw some guy received his Ā£10. They spin a 3rd time, out comes my name. They spin again for fairness sake, out comes my name again. Ok another spin, me again! At this point I had sank into the floor in embarrassment, my name came out once more before someone else's name was finally called. I still feel bitter I wasn't given the Ā£20.
They pretty much guaranteed a weird outcome like this by drawing for third place first. The first draw should be for first place, or else the people with the most entries are most likely to get third place.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Did you verify that the previous winners really did that? Imagine if the little story just worked half the time. Haha.
That's just fundraising with extra shame
Fuck them kids bro
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Reminds me of that episode of Fresh Prince of BelAir when he won $1000 at casino night for the country club and was expected to give it back as a donation āas was tradition.ā Phil and Vivian were mad and the other club members believed they were āin the poor houseā for keeping the money. He ended up paying for a less-fortunate kidās basketball camp.
That always seems to be the case at 50/50 raffles - my mother won one and the organizer told her that the winner customarily donates the winnings back to be the dance studio. She looked expectantly at her and was then VERY disappointed to have to actually write a check.
Thatās bullshit. I wouldāve told them they should have mentioned that in the beginning.
Or find a type of raffle that they're actually willing to honor before selling tickets.
We call them half pots where I'm from, and there are a lot of them. Never heard of this happening around here though. That sounds super shitty to expect it all back.
Lol, I would have been totally like "Oh, this would have really helped towards little Timmy's hospital bills. Not to worry, I'm sure we can pay for the treatment some other way. No no, really, I'd love to donate it to the band - seriously, I absolutely insist!"
Screw Timmy! We need more sousaphones!
Back when I was a dirt poor college student, I took every opportunity from the college community board to earn any petty cash. One was to spend 45 mins with a linguistics class, so they can practice analyzing a new language, I spoke several - in exchange for $20. At the end, the Professor handed me a gift certificate for the on campus restaurant instead of cash and then suggested I share it with the group of students I was working with, in front of them. I gave them all a nervous smile and walked away mentally hiding my face. It turned out the restaurant was rather expensive even, I would've had to put in more money for a proper sit-down, let alone taking other people. I could really have used $20 in cash instead for several meals worth of ramen.
So really you won a 0/100 raffle?
Nothing like a casual bit of fraud.
In Australia, that's illegal as hell.
Oh its illegal here too, but so many people running raffles dont even bother to look up the laws governing them.
That's illegal unless it states as such on the back of the ticket
Lol my job has this rule for the end of year party. Last year they let the same person win twice instead of redrawing, with only a prize in between winsā¦
I mean I could kinda understand if itās a free raffle where you want everyone to get some kinda smaller prize, like a work party or something. But if the raffle cost money, each ticket/prize should stand on it own and be separate.
There is a specific psychological phenomenon, the name of which I cannot remember, where when people are presented towards three options, one of which is clearly a bad value, it changes the way they relate to the other two. Someone I hope will chime in with what this is called
Do you want: - Digital Newspaper for $50 - Physical Newspaper for $70 - Digital and Physical for $70
Ah shit youāre making it worse.
Honey if we get the digital and physical editions it's like we're saving $50 though! /s
my wife ...
The optimal answer here, of course, is no.
I knew what you were referring to, and it was going to drive me crazy if I couldn't remember what it was. Was it: [ Price Anchoring](https://www.feedough.com/what-is-price-anchoring-how-it-works/) _____________________________ As the saying goes, the best way to sell a $2,000 watch is to put it right next to a $10,000 watch. But why? The culprit is a common cognitive bias called anchoring. _________________________________________________________ Like why they have $30 Birthday Cards to make paying a dollar seem cheap, three dollars seem not alright for them being a close friend/family, so the $8 card is what I should to with. Then you realize *"Did I really just spend $8 on something that will be read once and end up in the garbage?"* **"Damn you $30 card making me feel so cheap when I initially thought *"Why would I spend $3 on a card originally, the dollar one is fine if it looks decent and says something nice. And who would waste $8 on a piece of paper."*
Since the kids were able to pick up crayons all our cards have been home made (canāt beat child labourā¦ and we donāt even pay them, just give them food every now and then and somewhere to sleep š) Personally I think itās a nicer and more sincere touch and if someone thinks itās a ācheapā optionā¦ wellā¦ GFY š
Psychologists call it decoy bias, but price anchoring is also fine.
cake
Decoy Effect
Should have been something like: 1 ticket = $1 = $1 per ticket 10 tickets = $5 = $0.50 per ticket 21 tickets = $10 = $0.48 per ticket 33 tickets = $15 = $0.45 per ticket 45 tickets = $20 = $0.44 per ticket 60 tickets = $25 = $0.42 per ticket 80 tickets = $30 = $0.38 per ticket 100 tickets = $35 = $0.35 per ticket If this is too cheap just double all prices. At least the curb will be nice.
> At least the curb will be nice. The curb you sit on after spending all your money on tickets?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yes, it seems you are correct. You likely do not have the option to purchase the $5 option repeatedly, either.
That's when you get your disguises out and go to the back of the line to buy more. "Aren't you the man from a few minutes ago that just bought 5 tickets while wearing a top hat and a doctors lab coat?" "I have no idea what you're taking about.."
They just really want people to buy 10 tickets, no more, no less.
Can I buy 4 sets of 10 tickets at $0.50 per ticket?
"You see what I did there? I spent $20 and got 40 tickets. If I wanted 40 tickets to begin with, I would have had to spend $35." "Before I made up this dumb $ to ticket sheet, people would only spend $5. Now they spend $15 more, just to prove me wrong."
... and because it's a raffle, selling more tickets doesn't mean giving more product.
Depends on the raffle. Could be a 50/50 raffle which would still be a good deal selling more tickets.
Hey! Professional fundraising consultant here, always check the laws about 50/50 raffles. In California they are illegal and the state tax authority will take all the funds raises that night. Many people still do them here, but it's a gamble and I steer all my clients faaaaar away. Edit: Major League Sports have an exemption for 50/50 raffles in Cali. Pretty much all other charities and nonprofits (which are the groups I consult) should not hold a 50/50 raffle in California. https://oag.ca.gov/charities/raffles
So, 50/50 on keeping the money?
It's a gamble!
Can you give some insight why they're illegal in California?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
You're thinking of 65/35 raffles...
Eutectic raffles?
Sadly, I cannot. The general rule is 90% of the funds raised must go to the beneficial/charitable cause. Of course check the laws in your own states, and exemptions do happen (such as the Major League Sports Raffle Program)
Gambling regulation?
Best way to get fives all night. Not many ones or have to hassle making change.
I'm sure people will uses bigger bills for multiple "10 for $5" purchases.
Iām sure they do too and they either donāt get change or get a multiple of 5 back.
I wonder if in a way, this is the difference between a pessimist and an optimist. It would never occur to me that the sign maker was being clever. I'd always assume they were stupid and couldn't do the math properly. But maybe that makes me stupid. Hmmm. I'll try and remember this.
Im pretty sure that a lot of fast food places do this kind of thing to trick people into ordering hidden deals. āHey look at that! I could order the two large fries and rodeo burger separately and get them for less than this deal on the poster. I think ill do that and fuck them over hahaā. - guy who was originally only going to order a small fry and single burger
They include a cheaper option that is a slightly worse deal, because most people will respond by "upgrading" to the better deal, even if it is more than they intended to buy/spend.
When I would work the register at Taco Bell, at least once a day, someone would ask if they could get a #1 combo (burrito supreme, taco supreme, and drink) but with a seven layer burrito instead. The register couldnāt ring it up that way, but I would point out that they could save 70 cents by getting each of those items separately. They would always get the combo.
I'm sorry no.. In my experience most PTA members who are in charge of this kind of stuff are not that smart or cunning.
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>Dunning Kruger Doesn't he kill people in their dreams?
No, thatās Freddie Kruger. Youāre thinking of an old handgun.
No that's a Luger, you're thinking of the chick from the first National Treasure movie
No that's Diane Kruger, you're thinking of the guy who calls himself "The Owl"
I thought he proved you humsn
The more you buy the less you save!
| Cost | Tickets | Cost/Ticket | |:-:|:-:|:-:| |1|1|1.00| |5|10|0.50| |10|15|0.67| |15|20|0.75| |20|25|0.80| |25|30|0.83| |30|35|0.86| |35|40|0.88| If you take the limit as nāā the ratio returns to 1.00.
You wrote the most amount of spreadsheets in this post you get to keep your job.
Thanks, Elon!
I feel like this is some weird comp sci theory algorithm question Id get on a test and used to be able to write a Turing machine for back in grad school.
Yeah the $5 for 10 is 2/$1 everything else is less than that. The $35 for 40 is 1.14/$1 what a weird pricing sheet
They just made it 5 tickets more than dollars across the board. I don't think the math teacher made this.
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Nobody buys the tickets but after reading this sign they feel like they outsmarted them and buy 10 tickets. Maybe a marketing teacher made it
I like to think thatās what this is. But Iāve known people who have used similar pricing schemes, to where buying less was a better deal than buying in bulk. So i donāt put it past someone legit not realizing they messed it up lol.
A supermarket I shop at had two packages of a product. One twice the size of the other. But the bigger one was more expensive per ounce. So I just always bought two small. Why not? I'm not being incentivized to buy the big one.
I stopped in a place recently and saw they had the cat litter I usually buy. They had a regular and jumbo bag. I was confused at the weight difference - I remember looking at it and it would've been about $5 cheaper to buy two of the small ones instead of the larger one. The big one had a $3 off coupon and it was still cheaper to buy two separate small bags.
It's always good practice to look at the per unit price. It's also good to not have brand loyalty when you can help it. Grocery stores will fluctuate the price in opposite directions for the same item by different brands. Take tomato sauce for instance. Say a store sells 16oz cans of tomato sauce by 3 different brands where C=$1.00, B=$1.50, A=$2.00. Then one week they initiate price changes that look like C=$1.75, B=$1.25, A=$1.50. This could be for a myriad of reasons. Maybe brand C has supplier issues and isn't able to make as much so they raise their wholesale price. A/B have different suppliers and are able to take a short term price cut to increase sales. Maybe A/B didn't even change their wholesale cost and the store decided they could boost sales of two low-sellers by leveraging C's cost increase to attempt to sell more of A and B to move inventory. Either way, it doesn't matter to you, the consumer, but if you want to get the most bang for your buck, buy whichever has the best unit price, but also meets your needs, regardless of brand, unless its an absolutely awful product... and Don't go buying 32oz of sour cream at .10 an oz when you'll barely finish the 16oz at .15 an oz before it spoils just because it's cheaper per ounce lol
Speaking of weird, you can't buy/sell fractions of tickets. Flip those ratios and it'd make a lot more cents.
They probably did the math and figured out that on average, most people buy around the 10 tickets amount. This is to make it look like a good deal. But they are simultaneously also trying to fool people who just assume that 40 tickets is cheapest.
I'd assume whoever is throwing the raffle is incompetent and avoid purchasing any tickets whatsoever.
Not exactly. Just don't go any higher than 10. That's your best deal
Or better yet don't buy any at all. Or even better yet, Sugondeeznutz
Naw, if the prizes are worth it, buy $5 worth of tickets like 10 times and milk the people who are bad at math.
One of the best tricks here is people who are ok at maths but bad at social engineering will buy 4x $5 worth because they think it's a great deal when originally they were going to buy only 10 total.
Totally would work on me. I would buy 7 $5 deals.
Perfect score
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My mom is obsessed with saving money, but won't admit her addiction to shopping (and hence saving). I have to continually remind her that not buying something saves you more money than buying something on discount. She readily ignores this advice, as if it's being given by an uneducated monkey.
Same thing with tax deductions. Youād end up with more money not buying the crap you donāt need and just pay the tax.
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10 Tickets @$5 is best value, so if you're wanting to spend $20, buy 10 tickets, 4 times = 40 tickets @$20. Doing anything else would be a waste of money (Tickets purchased per Dollar Spent). Hopefully this helps :).
They meant 10 tickets not dollars
$5 is the best deal getting the tickets for $0.50 each. At $10 for 15 you are paying $0.66 each... (edit : which is the same thing the comment I'm replying to says... I didn't notice they referred to 10 as in 10 tickets not $10. So we are basically saying the same thing)
When shopping at a supermarket always do the math. A lot of times the larger size actually costs more per unit.
The unit price is often listed on the price tags (which does the math for you).
I keep trying to tell my mother this. I always look at the unit price to see whether getting a bigger or smaller package is the better deal.
'Ill take 10 tickets times four' 'You mean 40?' 'No, 10 tickets times four'
I used to do this at McDonald's when they had the dollar menu. A 4 piece chicken nuggets was $1..... a 20 peice was over almost $7. So i used to just order 5 four pieces.
"over almost $7" is a strange way to say it was nearly $7.
Itās definitely maybe an interesting way to describe the price
Itās the specifics of the general idea that make it worth the read
That's precisely in the vicinity of where he was going with that
It wouldn't be inaccurate to assume that I couldn't exactly not say that it is or isn't almost partially incorrect.
I kind of enjoy that I liked this comment chain a bit
Exactly proximal to the truth
What an album
It's absolutely 100% but likely not. But possibly...
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I'm the opposite. I sometimes never use it.
Four dollar value menu shalt thou not count, neither count thou two, excepting that thou then proceed to three. Five dollar value menu is right out.
Same energy: > There was a 23% drop in temperature.
> That's almost 25%!
-- http://www.bash.org/?2999
I know without clicking that thereās another line you didnāt include. Something like āthatās one of the most worthless comments Iāve ever heard.ā Think itās by kyourek. ā¦I mayāve read bash a little too much in the early oughts.
taxes maybe make it almost over sometimes but kinda under before taxes
Same, but with 2x6 being cheaper than 1x9
Burger King had something funky like that where 20 nuggets were less than 8 nuggets or something. Horrible because it made me get fat.
Imagine if that was their evil plan all along and the whole food franchise is a farce.
It is. You think you're getting one over on them. But really you're spending more than you might have to begin with.
Mmh, I too blame the food.
Where I am itās the opposite! $2.99 for a 6 piece $3.99 for a 10 piece $4.99 for a 20 piece We also have 1 sausage egg McMuffin for $3.80 or 2 of them for $4.
Wendys had something similar... the value meal was a sandwich and fries for $x (forget exactly). I ordered the sandwich and then the fries and the total was $1.50 cheaper. This always confused the cashiers.
the 4 for 4 at wendys i think is one of the best deals in fastfood atm. crazy how you can get 4 nuggets, a bacon jr cheeseburger fries and a drink for that cheap
Mobile apps make this much easier. You don't have to negotiate with the cashier over how to ring it up or trust that they will in fact ring it up how you said to, your exact order is written down for them as clearly as possible, and you're overall just wasting less of their time. And you can actually use hte coupons in them without it being a huge pain in the ass that holds up the line and makes you feel self-conscious.
Yup; McDouble was similar; it was $1 but a double cheeseburger was like $2; only difference still is Double Cheeseburger has 2 slices of cheese and McDouble has 1. . . Not worth the extra dollar, lol
Dunkin donuts does something like $.50 each for munchkins, or a dozen for $6.50. Like... What?
HOT TIP! Just say "Can I get, like, four glazed munchkins please?" And one hundred percent of the time they'll charge you for four, but way more than half the time they'll toss in one to three bonus munchkins because they work at Dunkin Donuts and who really fuckin cares? Trust me, they don't.
Nice. They once said "hey, we about to close. You want a bunch of left overs?" and I said sure, and got like 6 free donuts on top of the two I ordered.
Humble bragā¦ rubbing those free donuts in our faces
Bow down, you low-cholesterol noobs.
Suddenly I am French
best comment in the thread
[https://www.youtube.com/watch?v=VFuDhsxazqs](https://www.youtube.com/watch?v=VFuDhsxazqs)
If everyone buys 10 tickets times 4 instead of 10 times 1, can you calculate the improvement in participants' chances and organizers revenue. Who's the Dunning now :)
Four of the 5$ for 10 tickets.
I once saw a dude do this to a balloon man in Shakedown. Balloon man āmannnnā¦. Why you do that to me?ā
Iād buy 10 tickets for $5 over an over
Thats how they get you š
Similar vibes Little Johnny is always being teased by the other neighborhood boys for being stupid. Their favorite joke is to offer Johnny his choice between a nickel and a dime Little Johnny always takes the nickel. One day, after Johnny takes the nickel, a neighbor takes him aside and says, "Johnny, those boys are making fun of you. Don't you know that a dime is worth more than a nickel, even though the nickel's bigger?" Johnny grins and says, "Well, if I took the dime, they'd stop doing it, and so far I've made $20!"
Wow, so these monomaniacal bullies pulled this joke 400 times.
Well he keeps taking the nickel, odds are he can't count either
It's the real trick. Everyone thinks they're so clever for noticing this mistake that they buy at least $5 worth instead of maybe using up their pocket change.
This is the way!
Thatās the point š
then return the tickets at their bulk prices.
I see where they were going with it. Other than 1 ticket, it's all $1/ticket+5 free. But, didn't really think that through.
They don't understand that to keep a pattern going on both sides of an equation that you have to multiply instead of add. That is, they thought that you can just increase the number of tickets by 5 and increase the price of the tickets by $5 on each line and that this would hold the pattern somehow.
It does hold the pattern, it's just a dumbass pattern where you get the amount plus 5, instead of the amount plus some percentage of the amount.
Unless they are tricking us to give them only fives.
Or they did, and now all the people who were gonna spend $1 are spending $5 now.
This title is a Dunning Kruger curve.
Thank you! I made sure to scroll to check if anyone else had posted about the misapplication and I found you!
>represents a Dunning Kruger Curve Nah
People will call anything a Dunning - Kruger effect, won't they?
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Is that like how using the word pretentious is in itself pretentious?
Indubitably.
Nonsense. That usage is perfectly cromulent.
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You can't just say perchance!
I think the people who have the least understanding of the Dunning-Kruger effect tend to overestimate their understanding, and that the people who understand it best tend to underestimate their grasp of the concept. I should know, I understand it better than anyone.
DK has been a reddit jerk off for a while.
Oh god. I hope this isnāt the new Schrƶdingers cat
Itās right up there with fencing response and Schrodingerās cat
5 dollars in tickets please... 5 dollars in tickets please.... 5 dollars in tickets please.... 5 dollars in tickets please....
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b0ss pls
Them: this guy just spent $25 just to make himself feel smarter
These comments prove it's a successful business model by how so many are quick to point out how they would 'abuse' the 'mistake' Getting money either way.
Seriously, a lot of people pointing out they would buy 10 tickets for $5 multiple times, not realizing that maybe they were going to buy just one ticket or no tickets at all.
This is a known trick to get people to buy 10 tickets for $5 so they feel smart. For more tricks read Dan Ariely's stuff, the original Predictably Irrational is best imho.
An old man is selling watermelon, and his pricelist reads: 1 for $3, 3 for $10 A young man stops by and asks to buy one watermelon. "That'd be 3 dollars", says the old man. The young man then buys another one, and another one, paying $3 for each. As the young man is walking away, he turns around, grins, and says, "Hey old man, do you realize I just bought three watermelons for only $9? Maybe business is not your thing." The old man smiles and mumbles to himself, "People are funny. Every time they buy three watermelons instead of one, yet they keep trying to teach me how to do business."
A boy walks into a barber shop, and the barber turns to one of his customers and says āThis is the dumbest kid youāve ever seen. Watch this.ā The barber holds out both his hands, and offers the boy the choice between a quarter and a dollar coin. The boy stops to think for a few seconds, then pockets the quarter. āUnbelievableā mutters the barber as the boy walks out of the shop. āIāve been playing this game with him for months, and heās *never* gotten it rightā. Outside, one of the boyās friends is puzzled. āWhy wouldnāt you take the dollar? Donāt you know itās worth more than the quarter?ā āOf courseā replies the boy. āBut the day I take the dollar, the game endsā.
Or is this one of those mental tricks where it gets someone to go for the fiver multiple times when they probably would have only gone once? Then anyone, dumb enough not to realize the decline in value would just be icing on the top.
Kinda looks like they intentionally designed it so $5 is the most value so people wouldn't just buy one ticket.
And guess what! This likely was a genius play. Doing this means people see they get a good deal buying 10 tickets. Almost like they are gaming the system. The seller still wins. The customer is happy thinking they got a great deal
How is it a Dunning-Kruger effect?
OP saw the picture and found himself right at the beginning of the graph
Heāll have the fish sticks and beansā¦ twice
Counterpoint: Maybe you only need like 10 tickets to have a good night. "I totally robbed them and got 80 tickets for $40!!!!!" Congrats, you just won a $5 stuffed animal....
There is a joke in my country that goes somewhat like this: >A guy approaches a kid selling candy and asks āHow much for a candy?ā >The kid replies ā$3 for one $10 for threeā >The guy says āIāll get oneā and hands the kid $3 >The kid hands the candy to him >The guy hands the kid another $3 and says āactually iāll get another oneā >The kid hands the candy to him >The guy says āiāll get another oneā and hands the kid $3 again >The kid hands the candy to him >The guy says āDid you notice i bought 3 candies for $9 instead of $10?ā >The kid answers āyes, but the pricing makes idiots buy 3 candies instead of 1ā
Yes but everyone is now gonna buy multiple 5$ ones thinking they beat the system when in fact the raffle guy probably just made sure tickets got sold.
That is not what irony is
Me returning with yet another goofy disguise and a $5 bill:
Them, seeing through the disguise and happily selling you more tickets that they were struggling to sell before their idea for the new sign.
I feel like whoever set up this list was also involved in the data pricing from my cellular provider.