The decoy principle, also known as the decoy strategy, is a fascinating tactic that is used in various areas of life. This concept is based on the idea that the introduction of a third option, which is seemingly less attractive than the other two, can influence a person's decision. This effect can be observed in psychology, economics and even in everyday life.

In psychology, the Ben Franklin effect refers to the idea that people tend to be more favourably disposed towards someone from whom they have already accepted a favour. It is as if the act of accepting a favour creates a positive attitude towards the person from whom the favour originated. This type of social dynamic can lead to people being more cooperative and friendly with each other.

In business, the decoy principle is often used in pricing. By introducing a more expensive option that is not justified in terms of value, a company can make the other offers appear more attractive. This often results in customers choosing the middle option, which is actually the company's target. It is a subtle form of influence that is widely used in marketing strategies.

The Ben Franklin effect can be used in a variety of ways in everyday life. For example, if you are trying to convince someone of an idea, you could ask them for a small favour. This will make the person feel more comfortable and open to your suggestions. It's amazing how a seemingly small action can influence relationships and decisions.

Overall, the Decoy Principle is an interesting way to understand and influence people's behaviour. Whether in psychology, business or everyday life, the idea that a third option can influence decision making is an intriguing concept that can subtly guide our behaviour.