Positive And Negative Effects On Decision Making Essay example

1195 Words Jul 21st, 2016 null Page
Positive and Negative Framing Effects on Decision Making Frequently, people come across situations in which decisions are needed, some important, others are urgent, and there are ones that are both urgent and important. Decision making is a cognitive process of selecting a choice from options that are given (Tversky & Kahneman 1981). Sometimes making a decision entails uncertainty and notoriously known to be difficult. One way a person can make a decision is to critically evaluate the information given. Some strategies used to make a decision are; gathering information, know the risk/consequences, know the alternatives, know the benefits, and find out what the biased information presented (Kahneman & Tversky, 1979). A biased information, is information that has been framed to manipulate the readers’ choice. In a study done by Kahneman and Tversky (1979), which investigated the Prospect Theory, they found that when there was a loss, it had more impact on the participants, then a gain. One of the studies they conducted was on gas pricing and how impactful the feeling was. The researcher points out that, participants were more affected with the small loss of money if they used a credit card, than with the small gain given to them by getting a discount if they used cash. Additionally, Kahneman and Tverskey (1979) found, that people were poor at considering the possibilities. They would weigh their possibilities with it either will happen, it might happen, and it will not…

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