CDS director Eric Johnson discusses the bait-and-switch airline fares, whereby they display an initial low price then switching it out later with a higher fare, that have been frustrating many consumers. "It’s not that hard to refresh Web pages to prevent having outraged consumers," he says. "While economists think a price is a price, behavioral science thinks the way the price is portrayed makes a difference," Johnson says. "The problem is that when that price is not available, people react to the pain of the increase plus the pain of the original price."
The mystery of the missing airfare
CDS director Eric Johnson discusses bait-and-switch airline fares.