Saturday 7 November 2009

choices, value and frame

According to previous studies, individual do consciously or unconciously makes choices based on preferences, example of this was getting student opinion on what type of application that should be admitted in the school. Student were more likely to prefer the intelectual applicant, and those with more value to be admitted.

There are two types of choices, riskless choices and risk choices. Example of riskless choices is the trade by barter kind of way. In other words it is seen as give and take. The risk choice is where by making choices with the expectation of outcome but not necessary getting the result at that moment, but with the hope of proberbility or assumption.

Framing refers to how important issues are presented or "framed in any given situation. While different frames can yield significantly different results, decisions about which frames to use are almost impossible to resolve and will almost always invite criticism in one way or another.Question order can shape responses by altering the larger context in which respondents think about an issue. Because answers to one question can be shaped by answers to previous ones, questions that are themselves fairly unbiased may create a very different effect when asked in combination. The order in which possible responses are listed may also have important effects on results.

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