Is two better than more? The critical moment of choosing between alternatives

Abstract

This research explores the decoy effect, mainly in the form of compromise effect, within realistic workplace decision-making scenarios. A sample of 51 healthy participants faced three scenarios where they initially chose between two alternatives, then reconsidered their choice when a third, higher-value option was introduced. Results indicated that the introduction of the third option significantly influenced decisions, confirming the impact of contextual factors in decision-making processes. Notably, when the threeoption scenario was presented first than the two-option set, the decoy effect seemed to be stronger. This could suggest that prior exposure to two-option choices may anchor preferences and weaken the decoy effect. Additionally, reaction times were longer in three-alternative conditions, reflecting increased cognitive workload. The findings highlight that decision-making is influenced by presentation order and cognitive biases, challenging rational choice theories. These insights may have practical implications for organizational decision-making, suggesting that structuring choices strategically can guide preferences.

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