High need for cognition amplifies the decoy effect
| Authors | |
|---|---|
| Year of publication | 2014 |
| Type | Article in Proceedings |
| Conference | The 3rd Nordic Conference on Consumer Research |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Decoy, choice, asymmetric dominance effect, need for cognition |
| Description | Expanding a choice set of A and B (product portfolio for example) with a third alternative C that is dominated by A, can increase the relative preference for A. This effect is known as the Asymmetric Dominance Effect, or the Decoy Effect. Filling the research gap, this paper examines the role of an individual’s Need for Cognition (NC) in decoy performance. An experiment with 92 participants found insignificant decoy effect for the group as a whole. However, there were notable differences in decoy performance for subjects high in NC and low in NC. |