Framing Bias

Description

Framing Bias - Individuals are susceptible to framing bias (Kahneman and Tversky, 1986) as they problem solve. In decisions where risk is involved, options are often framed in terms of gains and losses. In the case of losses, when given the choice between a sure loss versus a loss that is less probable but more disastrous, individuals are biased towards the latter, riskier choice.

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