Bass effects are usually those that are applied to a bass guitar, bass synthesiser or upright bass. As a general rule of thumb they are often more subtle than the effects applied to a guitar although there are a select few bassists who like to apply more unorthodox effects to the bass guitar in order to differentiate their own sound from that of others.
Typical bass effects are compression, limiters, parametric or graphic EQ and chorus - particularly on fretless basses. Other effects can of course be added depending on the type of "feel" that the song requires, some bassists will use Wah pedals, Flangers, fuzz or distortion effects and even synthesised bass foot pedals.
However, in most cases bass guitarists like to keep the bass sounding in the traditional manner as this is an integral part of the rhythm section, along with the drums and its bass tones which fill an important part of the overall frequency range.