Framing effects influence perceptions from "summary" of Misbehaving by Richard H Thaler
Framing effects are a powerful force that can significantly impact how we perceive information and make decisions. The way in which a situation is presented or framed can influence our judgments and choices, often leading us to make decisions that may not be in our best interest. Consider the classic example of a medical procedure with a 90% success rate. When framed in terms of its success rate, people tend to view it positively and are more likely to choose it. However, when the same procedure is framed in terms of its failure rate (10%), individuals are less likely to opt for it, even though the two frames are logically equivalent. This phenomenon highlights how the framing of information can alter our perceptions and deci...
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