Logically equivalent descriptions of the same choice produce different decisions depending on gain or loss framing.
Tversky and Kahneman's Asian disease problem: a programme saving 200 of 600 and one letting 400 die are the same programme, and preferences reverse between them.
In practice
- A savings plan described as "keep 92% of your income" is chosen over one described as "save 8%".
- A surgical consent form quoting a 5% complication rate is heard differently from one quoting a 95% success rate.
- Further reading
- Wikipedia
- Subject
- Decision-making & Reasoning
- Essay
- The catalogue of predictable errors