Decoy effect — Preferences for either option A or B change in favor of option B when option C is presented, which is completely dominated by option B (inferior in all respects) and partially dominated by option A.

Often we are faced with situations where our intuition misguides us. Cognitive biases are systematic patterns of deviation from norm or rationality in judgment. Many of these biases affect belief formation, business and economic decisions, and human behavior in general.