What is Decoy Effect? Explanation with Example

What is Decoy Effect? Explanation with Example The decoy effect, popularly known as the asymmetrical dominance effect with economists, is a phenomenon where people tend to have a change in preference between two options when presented with a third option that is asymmetrically dominated. Though more loved by Economists, the decoy effect also plays a … Continue reading What is Decoy Effect? Explanation with Example