Suppose you conduct a study in which subjects are asked the following questions: 1." Imagine that you have decided to go to a basketball game where the cost is $25 per ticket.As you enter the arena,you discover that you have lost your $25.Would you still pay $25 for a ticket?" 2."Imagine that you have decided to go to a basketball game and you pay $25 for the ticket.As you are walking into the arena you realize that you have lost your ticket.Would you pay another $25 for another ticket?" You find that 90% of your subjects answered "Yes" to the second question,compared to the 50% that answered "Yes" to the first question.This is an example of

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Quizplus · Accepted Answer

This scenario illustrates narrow framing because individuals perceive the loss of the ticket differently from the loss of cash, even though the monetary value is the same. This leads to inconsistent decisions based on how the situation is framed or presented.

Suppose You Conduct a Study in Which Subjects Are Asked