What's a Cognitive bias? [5 examples]

If you're one of those who goes to the cinema and orders popcorn, you might have encountered a choice similar to this:

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If you chose the €6.50 popcorn, thinking it was the best option, you've "taken the bait."

This is known as the "decoy" effect. It occurs when a less attractive third option (the decoy) is added to two alternatives to influence our perception of the original two.

This effect is one of the hundreds of cognitive biases commonly used to influence our purchasing decisions.

So, what are cognitive biases?