People care more about round-number milestones than adjacent numbers due to psychological framing effects

the verdict

SUPPORTED

the evidence backs this

Recorded sources

4 sources for · 0 against

Counts group repeated records of the same source within each side. They do not measure evidence strength or source independence.

Multiple studies demonstrate that people systematically favor round numbers and exhibit behavioral discontinuities at round-number milestones due to psychological framing effects.

The analysis

The retrieved literature consistently confirms that round-number milestones act as psychological reference points and framing devices in investment, pricing, and decision-making contexts. Papers [1], [2], [3], and [11] all provide direct empirical or theoretical support for round-number bias driven by framing effects. No papers refute the claim.

Evidence for · 4

CBEval: A framework for evaluating and interpreting cognitive biases in LLMs

Recorded source metadata

Ammara Shaikh, R. Dandekar, S. Panat, R. Dandekar. CBEval: A framework for evaluating and interpreting cognitive biases in LLMs. 2024. https://doi.org/10.48550/arXiv.2412.03605

Identifies round number bias and framing effects as well-documented cognitive biases present in decision-making.

Source citation format

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More for · 3

Round-Number Bias in Investment: Evidence from Equity Crowdfunding

Recorded source metadata

Fabrice Hervé, Armin Schwienbacher. Round-Number Bias in Investment: Evidence from Equity Crowdfunding. 2018. https://doi.org/10.3917/fina.391.0071

Demonstrates round-number bias in investment decisions where individuals disproportionately favor round numbers due to uncertainty.

Source citation format

Anchoring on Historical Round Number Reference Points: Evidence from Durable Goods Resale Prices

Recorded source metadata

Scott S. Wiltermuth, Timothy Gubler, L. Pierce. Anchoring on Historical Round Number Reference Points: Evidence from Durable Goods Resale Prices. 2022. https://doi.org/10.1287/orsc.2022.1632

Shows that people price durable goods using discontinuous psychological reference points at round-number thresholds due to framing effects.

Source citation format

The hidden risk of round numbers and sharp thresholds in clinical practice.

Recorded source metadata

Lengerich BJ, Caruana R, Nunnally ME, Kellis M. The hidden risk of round numbers and sharp thresholds in clinical practice.. 2025. https://doi.org/10.1038/s41746-025-02079-y

Highlights how clinical practices rely on round-number thresholds that create cognitive distortions and discontinuities in risk assessment.

Source citation format

The paper trail · every fact has a biography

first checked01 Aug 2026

judged → SUPPORTED · 8201 Aug 2026

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