Top Definition
When a person's friends or acquaintances agree to uphold untrue stories about the friend for the sake of helping that friend impress others, especially a romantic interest.
"Rick told me that Marty graduated from Yale and used to work for Disney!"

"Aw, Marty hasn't done any of that. That's just Ricky using the Gatsby Effect to help him date you."
by Fits Gerald June 12, 2013

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