Changing the description of a decision can cause us to change our reference points,leading to illogical preferences.This phenomenon is referred to as ______.
A)hindsight bias
B)the gambler's fallacy
C)availability
D)framing

Question

Quizplus · Accepted Answer

This phenomenon is referred to as framing. Framing effects occur when the way information is presented (or "framed") influences our decisions and judgments, even if the underlying information remains the same.

Changing the Description of a Decision Can Cause Us to Change