Framing Bias Explaination- Cognitive Biases

In this video, you will learn about a cognitive bias known as framing bias.

#framingbias #cognitivebias #wallstreetmojo #decisionmaking #humanbehaviour

Chapters:
00:00 – Introduction
00:44 – What is framing bias?
02:03 – Examples
03:43 – How to overcome framing bias?
04:50 – Conclusion

What is framing bias?
Framing bias is a cognitive bias in which we get influenced by how a statement is presented. It is also known as framing effect bias.

Due to this, we may often overlook factual data and decide based on what was put before us. Unfortunately, this may not be the best way to make decisions.

The same information can be conveyed to us in so many ways. It can be framed positively and even negatively, in a different tone, or presented differently.

All of this creates framing bias which is a perceptive error.

(Explained in detail in the video)

Examples
We have taken two examples of framing bias; you can check out the video to learn about those. It will help you understand the concept of framing bias even better.

How to overcome framing bias?
Be analytical in decision making
Have a heuristic approach
Don’t take shortcuts
Have a long-term perspective

(Explained in detail in the video)

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