BIAS OF THE WEEK

Decoy Effect

Participants are exposed to different beer offerings, they have to chosse which one they would buy : 

  • between a bargain ($1.80) and premium ($2.50), 20% chose premium
  • between a bargain($1,80), a premium ($2.50) and a deluxe ($3.40), 80% choose premium

We switch our preference betwen two options when a thirs is asymetrically dominant option is presented. 

See the full study here :

Laja, P. (2020). Pricing experiments you might not know, but can learn from. CXL. https://cxl.com/blog/pricing-experiments-you-might-not-know-but-can-learn-from/
 
 

Want to know more about biases?

Present Bias

Zero-Sum Bias

Einstellung Effect

Halo Effect