For example, a store in the US would list a product as $4.99, yet in the UK it would be listed at either £4.00 or £4.
Is there a reason for this? Why would the Americans need to omit 1 cent from the price? Is there some visual effect that causes consumers to think the price is lower, though the price is actually $5.00 (not including tax). Why is the pricing convention so different as opposed to other countries? Examples of other countries including the UK are Asian countries, such as the Japanese Yen, the Chinese Yuan, etc.