Yinan CaoFeb 10, 2023

#DecisionMaking #DecoyEffect #DecisionNeuroscience
New paper with @k_tsetsos is published in @eLife

Paper: https://elifesciences.org/articles/83316

We showed that a unidimensional distractor effect in a previous study (Chau et al., 2014 Nature Neuro.) affords alternative interpretations.

Twitter thread: https://twitter.com/yinan_cao/status/1624113909597601792

Our work is a demonstration of a self-correcting process exclusively by virtue of the power of #openscience.

Clarifying the role of an unavailable distractor in human multiattribute choice

A previously reported positive influence of a distractor alternative on decision accuracy was driven by an unintended covariation between key variables, beyond which the distractor has a modest negative influence on accuracy, possibly mirroring asymmetric multiattribute context effects.

eLife
Chris BoltonJan 15, 2023
#TiL253 (378)
Asymmetric Dominance Effect
Forgotten I knew about this.
A technique (trick) used in sales and marketing to ‘nudge’ us towards buying things we otherwise might not have.
Yes, it’s sneaky and underhand, but we fall for it.
Ever bought the *big* coffee?
Broadly called the Decoy Effect
And its also used in Business Case Options Appraisals.
More on #DecoyEffect here ⬇️
https://whatsthepont.blog/2020/10/03/how-to-spot-the-decoy-effect-in-business-case-options-appraisals/
How to Spot the Decoy Effect in Business Case Options Appraisals.

What's the PONT