The decoy effect only works when the number of options is less than six

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-08-22 DOI:10.1111/kykl.12413

Subrato Banerjee, Pragathi Kandregula

引用次数: 0

Abstract

The decoy effect is a well‐documented source of violation of elements of demand theory. We experimentally demonstrate that the decoy effect only works when the number of options is limited (specifically not more than five). This is because, with more and more options, it may get difficult for consumers to spot the decoy (against which a Pareto dominant option is made to look more attractive), rendering the decoy effect ineffective. Identifying that the decoy effect works because it facilitates easier choice‐making, we observe that the difficulty in choice‐making with or without the decoy is statistically the same when the number of options to choose from is six or more.

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诱饵效果只有在选项数量少于六个时才会起作用

诱饵效应是违反需求理论要素的一个有据可查的来源。我们通过实验证明，诱饵效应只有在选项数量有限（具体来说不超过五个）的情况下才会起作用。这是因为，随着选项越来越多，消费者可能很难发现诱饵（与之相对的帕累托优势选项看起来更有吸引力），从而使诱饵效应失效。我们发现，诱饵效应之所以起作用，是因为它能让人们更容易做出选择，因此，当可供选择的选项数量达到或超过六个时，有诱饵和没有诱饵的选择难度在统计上是相同的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.