Weber's Law(redirected from Weber-Fechner law)
Also found in: Dictionary, Thesaurus, Medical, Encyclopedia, Wikipedia.
In psychology, a concept stating that change in a stimulus is noticeable in proportion to the strength of the original stimulus. Weber's law is used in marketing to increase prices for products. That is, marketers have found a company may change its prices by a certain percentage before customers notice they are higher or lower.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved