Apparently, getting the price right isn’t so easy.
A new study by a professor from Harvard University reveals that contestants on “The Price Is Right” are getting
worse at guessing product prices. The study looked at 120,000 bids from Contestants’ Row between 1972 and 2019. It concluded that contestants have increasingly
underestimated the true price of goods over time. The average bid in the 1970s was 8% below the actual price.
Contestants now underestimate prices by more than 20%.
The study concluded that online shopping and lower inflation has resulted in people paying less attention to the cost of products.