The Bazinga Effect is a philosophy originating from the popular tv series "Big Bang Theory". The well known catchphrase, "Bazinga" is used frequently, and a lot of the time out of context. This word is far from being classified as funny, but people still laugh. The word bazinga is an example, and the namesake of The Bazinga Effect.
Steve: "I don't get why people keep laughing, it's not funny."
Joseph: "It looks like The Bazinga Effect is settling in."