Final answer:
The cocktail party effect is the ability to focus on one conversation despite numerous distractions, highlighted by the concept of inattentional blindness demonstrated in selective attention studies.
Step-by-step explanation:
The cocktail party effect refers to the observation that c. despite the number of conversations going on at cocktail parties, most people are able to attend to a conversation in which they are involved.
This effect illustrates how our attention can selectively filter out a myriad of stimuli to focus on one particular conversation, even in a noisy environment. This phenomenon is tied to our perceptual abilities and the role of attention in sensory processing. When we focus our attention, we can effectively ignore other stimuli, an example of which is the infamous 'invisible gorilla' experiment highlighting inattentional blindness, where participants failed to notice an unexpected stimulus because their attention was engaged elsewhere.