Mental Accounting
Nobel Prize winning professor of psychology Daniel Kahneman talks about mental accounting, which bears some resemblance to framing. Dr. Kahneman explains that the way people manage money in certain instances is related to the how they interpret a pa...
Framing
Nobel Prize winning professor of psychology Daniel Kahneman talks about framing, which he describes as, "...the influence of formulation on preference." Dr. Kahneman provides an example of survey respondents asked to react to statistics indicating a...
Thinking and Language: Factors That Affect Human Judgment
Most people are overconfident in their judgments. How an issue is formulated, or framed, can influence preferences. For example, 10% mortality and 90% survival mean the same thing, but do not have the same impact. An affective forecast is at the hea...