Behavioral Economics
DOI:
https://doi.org/10.61173/p043px89Keywords:
framing bias, decision-making, positive framing, negative framing, Prospect Theory, framingAbstract
This study explores the complicated phenomenon of decision-making framing bias, shedding light on its cognitive
roots, real-world implications, and countermeasures. By investigating the interaction between emotional sensitivity
and objective judgment, the study illustrates the influence of framing bias on decisions. The essay demonstrates how
shifting the framing can impact how something is valued using principles from Prospect Theory. This prejudice is seen
in consumer decisions, public policy discussions, and media coverage. Even with education and awareness, it can be
challenging to counteract framing bias in a subjective, unconscious, and media-rich environment. In doing so, it sheds
light on the complex web of human decision-making and suggests potential future research routes to better understand
neurological processes and design focused therapies.