Framing (social Sciences) - Framing Effect in Psychology and Economics

Framing Effect in Psychology and Economics

Amos Tversky and Daniel Kahneman have shown that framing can affect the outcome (ie. the choices one makes) of choice problems, to the extent that several of the classic axioms of rational choice do not hold. This led to the development of prospect theory as an alternative to rational choice theory.

The context or framing of problems adopted by decision-makers results in part from extrinsic manipulation of the decision-options offered, as well as from forces intrinsic to decision-makers, e.g., their norms, habits, and unique temperament.

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