Uncertainty and Framing - Deepstash

Uncertainty and Framing

The prospect theory shows that people are often willing to make riskier decisions to avoid losses than to make gains - even when the situation is identical but framed differently. For example, a 30% chance of death and a 70% chance of life are two different ways to describe the same thing.

If uncertainty is the default, an irrationally strong influence will be exerted on the outcome.

162

641 reads

CURATED FROM

IDEAS CURATED BY

ang_n

"An investment in knowledge always pays the best interest." - Benjamin Franklin

The idea is part of this collection:

Wellbeing at Work

Learn more about problemsolving with this collection

How to prioritize self-care in the workplace

How to adapt to new work arrangements

How to maintain work-life balance

Related collections

Similar ideas to Uncertainty and Framing

Modelling motivation: rationality, signaling and bias

  • Rational choice theory suggests that human behaviour is underpinned by the motivations of each individual. More specifically, this theory models human beings as utility-maximizers, according to a set of preferences. If you give people a set of actions to choose from, th...

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates