Why Do We Fall For The Framing Effect?
Summary
TLDRThis script explores the 'framing effect,' a psychological phenomenon where decisions are influenced by how options are presented. It discusses how people perceive a product differently based on its context. The script delves into neurological research by Martino et al., who used fMRI to show that the amygdala, linked to emotions, plays a role in decision-making. The study found that people are more likely to gamble when choices are framed as losses, revealing our aversion to losing outweighs our desire for gains, and emotions can irrationally sway our decisions.
Takeaways
- 🧠 Framing Effect: The way options are presented can significantly influence our decisions, even if the options are essentially the same.
- 💭 Perception Shift: We perceive the same situation differently based on how it's framed, such as seeing a toothpaste as better if 'four out of five dentists recommend it' versus 'one out of five dentists does not recommend it'.
- 💸 Price Comparison: The perception of a product's value changes depending on what other options are available, affecting whether it seems expensive or a good deal.
- 🔍 Research Evolution: The framing effect was first coined in the 70s by Furski and Kahneman, and later, in 2006, Martino and colleagues used fMRI to study brain activity during decision-making under different framings.
- 🧬 Brain Activity: The amygdala, known for emotional responses, is activated differently depending on how a decision is framed, suggesting emotions play a key role in decision-making.
- 🔁 Risk Aversion: People are more likely to choose the safe option when framed as a gain but are more likely to gamble when framed as a loss.
- 💰 Loss Aversion: The study showed that people dislike losing more than they like gaining, which is reflected in their decisions when the framing changes.
- 🎯 Emotional Influence: The amygdala's activation pattern indicates that emotions can lead to irrational decision-making, even when outcomes are the same.
- 🤔 Cognitive Bias: The framing effect is a cognitive bias that can override rational thinking, showing the complex interplay between cognition and emotion.
- 💡 Awareness is Key: Being aware of the framing effect can help us make more rational decisions by recognizing when our emotions are influencing our choices.
Q & A
What is the framing effect?
-The framing effect is a psychological phenomenon where people react to a particular choice in different ways depending on how the information is presented or framed.
Who coined the term 'framing effect'?
-The term 'framing effect' was coined by Furski and Kahneman in the 1970s.
How does the framing effect influence our decisions?
-The framing effect influences our decisions by making us perceive the same information differently based on how it is presented, which can lead to irrational choices.
What role does the amygdala play in decision-making?
-The amygdala, an almond-shaped structure in the brain, plays a role in emotional responses and is activated during decision-making, suggesting that emotions can influence our decisions irrationally.
How did Martino and colleagues study the framing effect?
-Martino and colleagues studied the framing effect by conducting an experiment where they presented participants with different scenarios and observed their brain activity using fMRI.
What was the experiment conducted by Martino and colleagues about?
-The experiment was about observing how people's choices change when presented with the same scenario framed differently, either as a potential gain or a potential loss.
What did the participants in the study tend to do in the first scenario?
-In the first scenario, where the choice was framed as a potential gain, participants were more likely to choose the safe bet.
How did the participants' choices differ in the second scenario?
-In the second scenario, where the choice was framed as a potential loss, participants were more likely to gamble, indicating a change in decision-making due to the framing of the scenario.
How much more did participants gamble in the second scenario compared to the first?
-Participants gambled almost 19 more times out of 100 when the choice was framed as a loss.
What does the activation of the amygdala during decision-making suggest about the framing effect?
-The activation of the amygdala during decision-making suggests that the framing effect might be driven by an underlying emotional system, as the amygdala is associated with emotional responses.
How can we avoid falling for the framing effect?
-To avoid falling for the framing effect, we can remind ourselves to consider choices objectively, looking at the actual outcomes rather than how they are presented.
Outlines
🧠 The Framing Effect
The paragraph discusses the concept of the framing effect, which was coined by Furski and Kahneman in the 70s. It explains how the way options are presented can influence our decisions, even when the underlying information is the same. For instance, the perception of a toothpaste's quality changes based on how it's framed against other products. The paragraph also introduces how the framing effect can impact our rationality and sets the stage for further exploration of its neurological basis.
🧬 Neurological Insights into Framing
This section delves into the neurological aspects of the framing effect. It describes an experiment conducted by Martino and colleagues in 2006, where they used fMRI to scan participants' brains while they made decisions under different frames of potential gains and losses. The study showed that the framing of the decision scenario significantly influenced participants' choices, with most opting for the safe bet when framed as a gain and gambling when framed as a loss. This suggests that the brain processes gains and losses differently, which is a key aspect of the framing effect.
💰 Loss Aversion and Decision Making
The paragraph explores the emotional aspect of decision making, particularly the aversion to losses. It explains that people are more sensitive to losses than they are attracted to gains, which is a significant factor in the framing effect. The study mentioned found that the amygdala, a part of the brain associated with emotional responses, was activated differently depending on how the decision was framed. This indicates that emotions play a crucial role in the irrational switching of decisions, even when the outcomes are the same.
🌟 Overcoming the Framing Effect
The final paragraph offers a positive outlook on the framing effect, suggesting that while our brains and emotions might be susceptible to it, we can still strive to maintain a balanced perspective. It encourages individuals to be aware of the framing effect and to remind themselves not to fall into its trap, thus advocating for a more rational approach to decision making despite the influence of emotional and cognitive biases.
Mindmap
Keywords
💡Framing Effect
💡Rationality
💡Loss Aversion
💡Amygdala
💡Emotional Responses
💡Decision-making
💡Furski and Kahneman
💡fMRI
💡Safe Bet
💡Gamble
💡Cognitive Bias
Highlights
Daily decisions are influenced by how options are framed.
Framing effect makes the same information seem better or worse.
People perceive products differently based on their placement among other options.
The framing effect was coined by Furski and Kahneman in the 70s.
The framing effect impacts rational decision-making.
Martino and colleagues conducted an fMRI study on the framing effect in 2006.
The study involved choices between a sure gain and a gamble.
Participants were more likely to gamble when the choice was framed as a loss.
The amygdala was found to be activated during the decision-making process.
The amygdala is associated with emotional responses and fear.
Emotions play a significant role in switching decisions irrationally.
The same brain response occurs for opposite decisions with the same outcome.
The framing effect may be driven by an underlying emotional system.
Despite the framing effect, we can still maintain a positive perspective.
Being aware of the framing effect can help avoid falling for it.
Transcripts
[Music]
every day
our options might be framed to make a
single decision
seem better or worse these two
toothpastes
cost the same but we'll think a
toothpaste is better
if four out of five then disrecommend
them that's almost all the dentists
so pretty good right what if the label
on this one said
one in five dentists does not recommend
well now it's a bit concerning
these two statements actually mean the
same thing so
why do we feel differently about them
it turns out we're pretty vulnerable to
the way options are shown to us
if a product is next to a bunch of
cheaper items
you might think it's too expensive but
if it's the cheapest product
it might look like a great deal
this is because the way our choices are
framed has the power to influence our
decisions
in the 70s furski and kahneman coined
the term the framing effect
which means that our brain makes
decisions based on how information is
shown to us
this can be so powerful that it affects
our rationality
while the framing effect became very
well known there still wasn't much
research about what was going on in the
brain
during these types of decisions the
martino and colleagues
took this concept a step further in 2006
by setting the framing effect
while scanning the brain with fmri and
their experiment went like this
say you receive 50 pounds
now you have the option to keep 20 for
sure or gamble to keep or lose all of
the money
think about what you would choose in the
next scenario
you receive 50 pounds again but now
you have the option to lose 30 for sure
or gamble to keep or lose all the money
what do you choose this time these two
scenarios are actually the same
the only difference is how the question
is framed
did your answer change between scenarios
if it did
you're not the only one participants in
this study were more likely to choose
the safe bet
in the first option but more likely to
gamble in the second
so much that they gambled almost 19 more
of the time
when the choice was framed as a loss
[Music]
why is this it seems that we feel losses
much differently than newfield gains
not only that but we dislike losing a
lot more than we even like
but what's happening in the brain it
turns out
that one part of the brain activated
during this switched behavior
and this was the amygdala
they found that it was activated when
choosing the safe bet in the first
option
but it was also activated when taking a
risk in the second
this almond-shaped structure in the
brain has been well known for emotional
responses
experiences and is mainly known for the
fear response
but how does this relate to decisions
this suggested that emotion plays an
important role
in switching our decisions irrationally
we have the same brain response to
opposite decisions
even when the choices have the same
outcome so it's possible
that the framing effect is driven by an
underlying emotional system
while our brains and emotions may have
something to do with how we fall for the
framing effect
we can still look at the glass half full
versus empty
and keep reminding ourselves not to fall
for the framing
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