Consumers prefer round numbers even when the specific number is better news

(Rensselaer Polytechnic Institute) Consider this scenario: A vaccine for the novel coronavirus has been developed that is 91.27% effective. If public health officials present this information using the specific number, people are likely to think the vaccine is actually less effective than if it is presented as being 90% effective. This concept is a real-life application of recent findings from Gaurav Jain, an assistant professor of marketing in the Lally School of Management at Rensselaer Polyte...