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The framing effect is a cognitive bias in which people decide between options based on whether the options are presented with positive or negative connotations. [1] Individuals have a tendency to make risk-avoidant choices when options are positively framed, while selecting more loss-avoidant options when presented with a negative frame.
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.
The concept of framing is adopted in prospect theory, which is commonly used by mental accounting theorists as the value function in their analysis (Richard Thaler Included [12]). In Prospect Theory, the value function is concave for gains (implying an aversion to risk ), indicating decreasing marginal utility with accumulation of gain.
Cognitive bias mitigation is the prevention and reduction of the negative effects of cognitive biases – unconscious, automatic influences on human judgment and decision making that reliably produce reasoning errors. Coherent, comprehensive theories of cognitive bias mitigation are lacking.
Ambiguity effect; Assembly bonus effect; Audience effect; Baader–Meinhof effect; Barnum effect; Bezold effect; Birthday-number effect; Boomerang effect; Bouba/kiki effect; Bystander effect; Cheerleader effect; Cinderella effect; Cocktail party effect; Contrast effect; Coolidge effect; Crespi effect; Cross-race effect; Curse of knowledge ...
Entman's [17] conceptualization of framing, which suggests frames work by elevating particular pieces of information in salience, is in line with much early research on the psychological underpinnings of framing effects (see also Iyengar, [22] who argues that accessibility is the primary psychological explanation for the existence of framing ...
A man who was filmed by CNN being released by rebels from a Damascus jail was a former intelligence officer with the deposed Syrian regime, according to local residents, and not an ordinary ...
Framing effects play an integral role in risk-aversion, as an extension of PT's S-shaped value function, which illustrates the differences in how gains and losses are valued relative to a reference point. Risky prospects are characterized by their possible outcomes and by the probabilities of these outcomes. [10]