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prospect theory

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    Framing Effects Entry #0508

    The reason gains are split and losses combined

    Two pieces of good news arrive on separate days. One piece of bad news arrives all at once. The pattern is not random and not accidental.

    Adept
    The hidden part #0508

    Good news is separated so it is felt twice. Bad news is combined so it is felt once. The arithmetic is the same; the experience is not.

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    Framing Effects Entry #0505

    Why a discount and a surcharge are not symmetric

    A cash discount and a card surcharge can describe the same two prices. Which one is stated as the baseline decides whether the gap feels like a gain or a penalty.

    Master
    The hidden part #0505

    The stated baseline decides the sign of the difference. The same gap is a gain or a loss depending on which price is called normal.

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    Framing Effects Entry #0503

    Why the same operation sounds safer with survival rates

    A ninety per cent survival rate and a ten per cent mortality rate are the same fact. One of them gets consent; the other gets a second opinion.

    Novice
    The hidden part #0503

    Equivalent facts, unequal reception. The frame does not change the odds; it changes which part of the odds the mind examines first.

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    Framing Effects Entry #0515

    Why a deadline framed as an opportunity underperforms

    Register by Friday to secure your place and register by Friday or lose your place describe one deadline. Only the second one recruits the faster motivational system.

    Master
    The hidden part #0515

    A deadline does not motivate by its date. It motivates by whether the reader believes they currently hold the thing.

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    Cognitive Bias Entry #0122

    The reason a small loss hurts more than a larger gain pleases

    Outcomes are not evaluated against zero. They are evaluated against a reference point, and the slope below it is steeper than the slope above it.

    Adept
    The hidden part #0122

    Nothing is judged against zero. It is judged against wherever you last stood, and the ground below that point is steeper than the ground above.

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