Decisions can depend on how choices are presented, or framed. Evidence includes the differences in behavior for

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Decisions can depend on how choices are presented, or framed. Evidence includes the differences in behavior for opt-in vs. opt-out procedures, the results of Slovic’s experiment involving decisions about a mental patient, and people’s response to the Tversky and Kahneman lethal disease problem. When a choice is framed in terms of gains, people use a risk aversion strategy, but when the choice is framed in terms of losses, people use a risk-taking strategy. Decision making is also influenced by people’s tendency to want to justify their decision and state a rationale for the decision. L01

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