This cognitive bias is widely exploited by businesses in order to manipulate the perception consumers have of the "true" value of a product. This bias is in play, for example, when a consumer believes that they are getting a great deal on a pair of designer brand shoes $($which cost the manufacturer under $$25$ to make$)$ because they bought them while on sale and marked down to half its original retail price of $$999\mathrm{.}99.$

Availability Bias

Anchoring Bias

Confirmation Bias

Self$-$Serving Bias