The Effects of Decoy Gambles on Individual Choice

@article{Herne1999TheEO,
  title={The Effects of Decoy Gambles on Individual Choice},
  author={Kaisa Herne},
  journal={Experimental Economics},
  year={1999},
  volume={2},
  pages={31-40}
}
A number of studies demonstrate that individual choice can be influenced by alternatives which should be irrelevant according to standard choice theory. In these studies it has been observed that introducing a decoy option, which is either asymmetrically dominated by a target option or which makes the target a compromise, increases the likelihood of choosing the target. A common feature of earlier research on decoy effects is the use of hypothetical choice tasks. The aim of this paper is to… CONTINUE READING

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