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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.
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 ...
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]
In mental accounting theory, the framing effect defines that the way a person subjectively frames a transaction in their mind will determine the utility they receive or expect. [11] 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 ...
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 ...
Framing effects occur when linguistically different descriptions of equivalent options lead to inconsistent choices. A famous example of a risky choice framing task is the Asian Disease Problem. [72] This task requires the participants to imagine that their country is about to face a disease which is expected to kill 600 people.
The name halo effect is based on the concept of the saint's halo, and is a specific type of confirmation bias, wherein positive sentiments in one area cause questionable or unknown characteristics to be seen positively. If the observer likes one aspect of something, they will have a positive predisposition toward everything about it.