Let's say that you are selling lottery tickets at your friend's bachelor party. You will probably sell more if you tell people they have a 50 percent chance of winning than if you say they have a 50 percent chance of losing. Why?
A)belief bias
B)framing effects
C)overconfidence
D)confirmation bias
E)availability heuristic effect

Question

Quizplus · Accepted Answer

Framing effects describe how people react differently to a choice depending on how it is presented, such as whether it is framed as a loss or a gain. In this scenario, framing the chance of winning positively (50% chance of winning) is more appealing than framing it negatively (50% chance of losing), thus likely increasing sales.

Let's Say That You Are Selling Lottery Tickets at Your