Learn more about psychology with this collection
How to overcome unwanted thoughts
How to manage intrusive thoughts
How to change your attitude towards intrusive thoughts
A Lesson in Framing
Framing refers to how a person makes decision depending upon how the information is presented. Framing effect is often used in marketing to influence decision-makers and purchases.
You can use this strategy to engage customers to buy your products. But depending on how you frame your messages, it can also be used to make the best of a bad situation.
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A Lesson in Confirmation Bias
Confirmation bias is when you actually seek out evidence to support a predisposed belief.
In this strip, Dilbert's boss believes that his managerial skills can affect the company stock. His belief is later reinforced, mostly by coincidence. However, because he was affected by bias h...
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Dilbert
Written by Scott Adams, is an 'infamous' comic strip that shows a humorous look in office life, but also manifests lessons on behavioral economics.
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Behavioral Economics
.... refers to the study of how social and psychological factors (decisions made by an individual, institution or business) can affect the market and its resources.
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A Lesson in Loss Aversion
Sometimes, it is hard to let go of something valuable without realizing that letting go is greater than we think.
Sometimes, a loss can feel more powerful than a gain of the same magnitude and vice versa. Considering the pain of a loss – or euphoria of a gain – can weigh heavily on futu...
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A Lesson in Overconfidence
Dilbert’s boss shows overconfidence by assuming that all management is – himself included – above average. This is hardly the truth, in general. As for Dilbert’s boss, he completely misses the jab attacking his math skills because he’s too focused on himself.
Overconfidence of bosses can...
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More like this
Framing and decision making
The framing effect happens when decision-makers choose opposite solutions for identical problems based on how the issues are presented to them.
For example:
- Time and money management: A study found that 93% of students registered early when presented with a penal...
How to manage the framing effect
- Consider the current frame: Be aware of marketing language when you are shopping for a product.
- Reverse the frame: Take the current frame and state it in the opposite way.
- Reframe the options: There may be more than two alter...
Halo effect: Related concepts
- The halo effect in marketing: The halo effect can also influence how we judge things, such as products and companies. For example, if you have a positive impression of a specific brand, you're more likely to buy products from that brand.
- The horns ...
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