“An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognise that they are the same."
— Nobel Laureate Daniel Kahneman
Introduction
Kahneman’s quote above neatly summarises the well-known concept of framing, first illustrated by Kahneman and his long-time collaborator Amos Tversky in 1981. Theirs and others’ later research describes how perceptions, judgements, decisions and behaviours can all change depending on how information is presented to us, particularly regarding whether positive or negative information is drawn to our attention. Indeed,...