Abstract:Decisions between two alternatives can be influenced by a third irrelevant decoy alternative. Although decoy effects typically depend on the decoy's relative position in a multiattribute choice space, recent studies using risky prospects (i.e., varying in reward and probability) reported a novel 'positive' decoy effect operating on a single value dimension: The higher the expected value of an unavailable (distractor) prospect was, the easier the discrimination between two available target prospects became, esp… Show more
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