Why does the Moon appear larger when it's positioned on the horizon compared to when it's high in the sky?

The Moon horizon illusion is likely explained by the Ponzo illusion, where our visual perception is influenced by our experience with distant objects. Throughout our lives, we observe that objects like clouds, planes, and ships appear to shrink as they move toward the horizon. However, the Moon maintains its actual size regardless of its position in the sky. To reconcile this inconsistency, our minds compensate by making the Moon appear larger when it's at the horizon. While this is a popular hypothesis among several theories involving atmospheric effects and cognitive biases, scientists are still conducting research to reach a definitive consensus on this fascinating optical phenomenon.