The asymmetric dominance effect or decoy effect emerges when a third inferior option is
introduced to a choice set. The decoy option, although typically not chosen, impacts relative …

Contrary to economic theory, psychological research has demonstrated increased choice
can undermine satisfaction. When and why this 'excess choice effect'(ECE) occurs remains …

Two processes have been identified as governing decoy and compromise effects in decision
making: The value shift process suggests that the decoy influences the cognitive evaluation …

Theoretical accounts of risky choice framing effects assume that decision makers interpret
framing options as extensionally equivalent, such that if 600 lives are at stake, saving 200 …

Decision-making research reports mixed findings about the best way to make complex
decisions involving multiple criteria. While some researchers emphasize the importance of …

In the classic gain/loss framing effect, describing a gamble as a potential gain or loss biases
people to make risk-averse or risk-seeking decisions, respectively. The canonical …

The purpose of this research was to determine whether individuals could use the decoy
effect to influence others' choices. In study 1, undergraduates (n= 50) and executive master's …

When faced with a decision, people generally show a bias toward heuristic processing, even
if it leads to the incorrect decision, such as in the base-rate neglect task. The crucial question …

The relative preference for a target product over a competitor can be increased by providing
a third alternative (a decoy) that is clearly inferior to the target but is not necessarily inferior …