The Decoy EffectPosted on July 22, 2020While studying behavioral economics I came across an interesting phenomenon called the decoy effect. This is something that large corporations use in their marketing techniques to get y..Read More
The Compromise EffectPosted on July 22, 2020This effect states that a consumer is more likely to choose a product with the middle ground when presented with extreme choices. When the consumer sees extreme options they are filled..Read More
Choice OverloadPosted on July 22, 2020Have you ever opened Netflix to watch something new and experienced an abundant overload of choices and eventually switched to Youtube or something else? This phenomenon is called the ..Read More