Description
Calculate supplied reduced-price and percentage frames.
Behavioral economic tasks use explicit payoff units, reference values, time periods and supplied utility or discount conventions. A decision weight need not be a probability, one branch term is not a full expectation, and a nominal cost difference does not establish perceived switching difficulty or an actual preference.
Calculate supplied reduced-price and percentage frames.
When to use this tool
Use Framing Equivalent Price Pair when you already have basePrice, reductionAmount and need to calculate supplied reduced-price and percentage frames.
How to use the tool and how it works
- Enter basePrice, reductionAmount. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read reducedPrice, reductionPercent, remainingPercent. Use the output convention below.
Require basePrice>0 and reductionAmount in [0,base]; return base-reduction, 100*reduction/base and 100*(base-reduction)/base.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| basePrice | Base Price | Required. Finite number; strictly above 0. |
| reductionAmount | Reduction Amount | Required. Finite number; minimum 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| reducedPrice | Reduced Price | Required. Finite number. |
| reductionPercent | 100*reductionAmount/basePrice, a percent number rather than a decimal fraction. | Required. Finite number. |
| remainingPercent | Remaining Percent | Required. Finite number. |
{
"input": {
"basePrice": 80,
"reductionAmount": 20
},
"output": {
"reducedPrice": 60,
"reductionPercent": 25,
"remainingPercent": 75
}
}Limitations and assumptions
- Percentages are numbers 0..100 under ordinary inputs. This does not validate reference prices, legal promotion claims, perception or equivalent customer responses.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Review the full task design, incentive and payoff definitions, participant records and statistical analysis. Estimate behavioral models from appropriate data when local supplied-value arithmetic cannot establish preferences or causal effects.
References
Similar or alternative tools
- Framing Nominal Equivalence Residual
Calculate a supplied cross-unit framing-equivalence residual.
- Behavioral Task Incentive Rounding
Round a supplied nonnegative incentive to a stated quantum.