Denomination effect
Encyclopedia
The denomination effect is a theoretical form of cognitive bias
relating to currency, whereby people are less likely to spend larger bills than their equivalent value in smaller bills. It was proposed by Priya Raghubir and Joydeep Srivastava in their 2009 paper "Denomination Effect".Joffe-Walt, Chana a(12 May 2009). Why We Spend Coins Faster Than Bills, NPR
Cognitive bias
A cognitive bias is a pattern of deviation in judgment that occurs in particular situations. Implicit in the concept of a "pattern of deviation" is a standard of comparison; this may be the judgment of people outside those particular situations, or may be a set of independently verifiable...
relating to currency, whereby people are less likely to spend larger bills than their equivalent value in smaller bills. It was proposed by Priya Raghubir and Joydeep Srivastava in their 2009 paper "Denomination Effect".Joffe-Walt, Chana a(12 May 2009). Why We Spend Coins Faster Than Bills, NPR