This video talks about the Framing Effect. One of the human traits to be deceived with simple statistics where the outcome is same is explained in the video. When provided with two option which results to the exact same statistic i.e either 70% profit or 30% loss, we tend to choose the earlier one, when the we both know that the later one also reflects the same outcome.
In order to enhance your viewing experience, follow the timeline:
00:00 Introduction of Framing Effect
00:38 Mechanism of Framing Effect
01:33 Real life example where Framing Effect is applied.
03:06 Conclusion
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