The Decoy Effect | How Companies Make You Buy The Pricier Option

What is the decoy effect and how do companies convince us to buy the most expensive product? This is a common pricing strategy that many big businesses such as Starbucks and Apple use. Asymmetry in pricing and quality can lead us to buy one product over other products. Hope you enjoy the video and share if you like it! Join the community! Facebook: Twitter: Instagram: TikTok: carlos@ Additional Reading: The decoy effect: how you are influenced to choose without really knowing it Adding Asymmetrically Dominated Alternatives: Violations of Regularity and the Similarity Hypothesis The Decoy Effect - Everything You Need To Know