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> It's alternatively phrased as this: "Would you like receive 4 dollars, or would you like a 40% chance to receive 10 dollars?" The problem is that the rationa
by DerpDerpDerp 13y ago
> It's alternatively phrased as this: "Would you like receive 4 dollars, or would you like a 40% chance to receive 10 dollars?"
The problem is that the rational answer to this depends on a huge amount of background information, eg, the value of certainly having some money, versus the benefit of the additional money.
- saraid216 13y agoIt's less of a problem when the effect is well known to hold in a variety of phrasings. It doesn't matter if it's people or dollars; it doesn't matter if it's 4 out of 10 or 8 out of 10. Further, they account for stuff like that by using large sample sizes. Different people are choosing both options. It's just that the proportions hold despite this. They've spent a good 30 years confirming this. If you really want to criticize it, it'd be worth putting together a list of studies investigating this and analyzing their methodologies for problems. http://en.wikipedia.org/wiki/Framing_(social_sciences)#Framing_effect_in_psychology_and_economics http://en.wikipedia.org/wiki/Framing_(social_sciences)#Frami... http://en.wikipedia.org/wiki/Framing_effect_(psychology) http://en.wikipedia.org/wiki/Framing_effect_(psychology)