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The default effect, a concept within the study of nudge theory, explains the tendency for an agent to generally accept the default option in a strategic interaction. [1] The default option is the course of action that the agent, or chooser, will obtain if he or she does not specify a particular course of action. [ 2 ]
A visual depiction of philosopher John Rawls's hypothetical veil of ignorance. Citizens making choices about their society are asked to make them from an "original position" of equality (left) behind a "veil of ignorance" (wall, center), without knowing what gender, race, abilities, tastes, wealth, or position in society they will have (right).
The framing effect is the tendency to draw different conclusions from the same information, depending on how that information is presented. Forms of the framing effect include: Contrast effect, the enhancement or reduction of a certain stimulus's perception when compared with a recently observed, contrasting object. [58]
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Status quo bias has been attributed to a combination of loss aversion and the endowment effect, two ideas relevant to prospect theory.An individual weighs the potential losses of switching from the status quo more heavily than the potential gains; this is due to the prospect theory value function being steeper in the loss domain. [1]
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Truth-default theory (TDT) is a communication theory which predicts and explains the use of veracity and deception detection in humans. It was developed upon the discovery of the veracity effect - whereby the proportion of truths versus lies presented in a judgement study on deception will drive accuracy rates.