Examlex
The current form of the Milton Bradley board game Life includes a circular spinner that has 10 evenly spaced numbers around the edge, which specify the number of places a character will move.Assuming the spinner is balanced, the outcomes 1 through 10 inclusive are equally likely.On your next turn, you must move more than 4 spaces to be in the lead.However, in your current location on the game board, every other space (each odd space) gives you an undesirable result.What is the probability that on your next turn you will be in the lead and not have an undesirable result?
Framing Effects
The influence on decision-making and judgment caused by the way information is presented, where different phrasing, presentation, or context can significantly alter individuals' choices.
Self-Serving Bias
A cognitive bias where individuals attribute positive outcomes to their own actions but negative outcomes to external factors.
System 2
A term often associated with dual-process theories of mind, representing the analytical, deliberate, and logical mode of thinking.
Framing Effects
Cognitive biases where people's decisions are influenced by the way information is presented, rather than just the information itself.
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