The Decoy Effect Has Important Implications for Consumer Decision Making

question 60

True/False

The decoy effect has important implications for consumer decision making.A savvy consumer can use cognition to avoid being affected by the decoy effect.

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Definitions:

Self-Awareness Theory

The theory that aspects of the self—one’s attitudes, values, and goals—will be most likely to influence behavior when attention is focused on the self.

Negative Self-Related Discrepancy

The difference between one’s self-perception and an ideal or desired self, often leading to negative emotions or self-evaluation.

Escape Self-Awareness

A psychological state or strategy where individuals deflect attention away from themselves to avoid distressing self-reflection or evaluation.

Misattribution of Arousal

A psychological phenomenon where an individual incorrectly attributes their emotional or physiological arousal to the wrong cause.