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4.1.2 Individual economic decision making
4.1.2.4 Behavioural economics and economic policy
Choice architecture and framing.
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What is Choice Architecture?:
Choice architecture describes how the decisions we make are affected by the
layout
,
sequencing
and range of
choices
that are
available
What is Choice Architecture?
Choice architecture describes how the
decisions
we make are affected by the
layout
,
sequencing
and range of
choices
that are
available
An example of choice architecture is getting more people to eat
healthier
by altering the
design
of the
canteen
What is an example of choice architecture?
An example of choice architecture is getting more people to eat
healthier
by altering the
design
of the
canteen
What is Framing:
Framing is the tendency for people to be
influenced
by the
context
in which the
choice
is
presented
when making a
decision
What is framing?
Framing is the tendency for people to be
influenced
by the
context
in which the
choice
is
presented
when making a
decision
An example of framing is when
food
packaging
presents key
information
like
low
fat
What is an example of framing?
An example of framing is when
food packaging
presents key information like
low fat