Keyword: expected value

Bad Decision - TED lecture (2/28/2014)

Bad decisions are made because people are bad at figuring out the odds and values of possible events.

Keywords: availability heuristic, expected value, gain, loss, odds, shifting comparisons

Framing Perceptions (6/22/2006)

Since people are risk-averse with respect to gain and risk-seeking with respect to loss, their choices can be easily manipulated by whether an offer is framed as a gain or a loss.

Keywords: expected value, framing, gain, loss, perception, risk averse, risk seeking