Decoy Effect is a cognitive bias characterized by adding a third option makes one of the original two more attractive.
Example: A small coffee for $2, a large for $5, and a medium for $4.50 makes the large seem like a better deal.
Decoy Effect is a cognitive bias characterized by adding a third option makes one of the original two more attractive.
Example: A small coffee for $2, a large for $5, and a medium for $4.50 makes the large seem like a better deal.