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We found 2 dictionaries that define the word decoy effect:

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  1. decoy effect: Wiktionary
  2. Decoy effect: Wikipedia, the Free Encyclopedia

Definitions from Wiktionary (decoy effect)

noun:  (marketing) The phenomenon whereby consumers will tend to have a specific change in preference between two options when also presented with a third option that is asymmetrically dominated: that is, the third option is inferior in all respects to one option, but, in comparison to the other, it is inferior in some respects and superior in others.

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