Framing – the finding that decision makers respond differently to different but objectively equivalent descriptions of the same problem
3 types of framing:
Risky Choice Frames (ex. gain/loss frames)
- what is framed? Set of options with different risk levels
- what is affected? Risk preference
- how is effect measured? Comparison of choices for risky options
Attribute Framing (ex. hamburger meat)
- what is framed? Object/event attributes or characteristics
- what is affected? Item evaluation
- how is effect measured? Comparison of attractiveness ratings for the single item
Goal Framing (ex. how to get someone to stop smoking)
- what is framed? Consequence or implied goal of a behavior
- what is affected? Impact of persuasion
- how is effect measured? Comparison of rate of adoption of behavior
What affects framing?
- how important decision is to you
- how perceptible the difference is btw a bad and good choice
- the environment (ex. car insurance, jungle question)
Take home message: It is important to be aware of heuristics and biases because sometimes they can cause us to make poor decisions (ex. phobias); however, we have developed them for a reason and usually they aid us in processing complex information