Behavioral Economics
DOI:
https://doi.org/10.61173/p043px89Keywords:
framing bias, decision-making, positive framing, negative framing, Prospect Theory, framingAbstract
This study explores the complicated phenomenon of decision-making framing bias, shedding light on its cognitive
roots, real-world implications, and countermeasures. By investigating the interaction between emotional sensitivity
and objective judgment, the study illustrates the influence of framing bias on decisions. The essay demonstrates how
shifting the framing can impact how something is valued using principles from Prospect Theory. This prejudice is seen
in consumer decisions, public policy discussions, and media coverage. Even with education and awareness, it can be
challenging to counteract framing bias in a subjective, unconscious, and media-rich environment. In doing so, it sheds
light on the complex web of human decision-making and suggests potential future research routes to better understand
neurological processes and design focused therapies.
References
on public opinion on issues and policies is highlighted Entman, R. M. (2007). Framing bias: Media in the distribution by the concept of “framing bias” in the policy-making of power. Journal of Communication, 57(1), 163-173.
process. The media’s ability to shape the public’s view of Gigerenzer, G. (2018). The bias in behavioral economics. Review events through language, images, and narrative choices is of Behavioral Economics, 5(3-4), 303-336.
inextricably linked to a framing bias. Kahneman, D. (2011). Thinking fast and slow. macmillan.
The ability to engage with information critically is Pawson, R., & Wong, G. (2014). Public Opinion and Policyenhanced when people, marketers, policymakers, and making. Evidence and Evaluation in Social Policy, 81-96. media consumers are aware of framing bias. The paper’s Tversky, A., & Kahneman, D. Judgment under uncertainty: examples demonstrate that framing bias isn’t an isolated Heuristics and biases. science. 1974; 185 (4157): 1124–31. CAS cognitive flaw but a widespread force influencing choices PubMed Article.
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This work is licensed under a Creative Commons Attribution 4.0 International License.
