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Framing effect

Description

A cognitive bias where people decide on options based on whether the options are presented with positive or negative connotations; e.g. as a loss or as a gain.

Framing effect in business decision

A product advertised as "90% fat-free" is perceived more positively than one advertised as "contains 10% fat," even though they describe the same product.

Framing effect in personal life decision

You're more likely to undergo a medical procedure if told there's a 90% survival rate than if told there's a 10% mortality rate, even though they're the same.