Asymmetric Dominance
- Consumers change their preference between two options when presented with a third option (the "decoy") that is "asymmetrically dominated".
- The decoy is priced to make one of the other options much more attractive.
- It is "dominated" in terms of perceived value (quantity, quality, extra features).
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The decoy effect
It happens when consumers change their preference between two options when presented with a third option, or decoy.
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The decoy effect
It is a cognitive bias: we tend to have a specific change in preferences between two options when also presented with a third option that is asymmetrically dominated.
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The Unattractive Option
- The Unattractive Third Option (The Decoy) has no real value in itself and is just placed to sway the decision maker towards the higher-priced option.
- The Decoy's only purpose is to make the expensive option appear like a bargain.
- This has also been widely used in subscriptio...
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