People are less upset when they miss getting an early payment discount than when they are asked to bear a late payment surcharge. This best illustrates the importance of

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This scenario exemplifies the framing effect, where the way a situation is framed or presented can significantly impact decision-making and people's emotional reactions. In this case, the early payment discount is presented as a positive incentive, while the late payment surcharge is framed negatively, causing more frustration and negative emotion when encountered.

People Are Less Upset When They Miss Getting an Early