Framing Decisions Essay
Millhouse on his situation came up with his conclusion upon relying on the structure contained by how the selling was presented to him. No matter how, it is possible that Millhouse had been into a great deal of confusion when he was deciding. It was present in his mind that the company is in need of that supplementary part and is in search of materials that are of good quality. And that this seller has been instinctively conscious of the probable framing Millhouse could have in mind.
At the same time, this seller has this skill to do sales talk and persuading a customer was indeed an easy thing on his part. He was capable to handle the situation. A good offer from the salesman was initiated and the selling price was specified: less than 40 cents a day just like the price of a soda. It was presented positively that at the end, the company would be satisfied by a high service utility by just spending likely of only a soda a day. The soda became the entity of assessment and it helped Millhouse comprehend the gains more gamely than the losses.
He was also glad that he was not alone to see the benefits of purchasing these goods. He ended up deciding with this framework to buy them because he was swept away by the promises of the benefits presented by the salesman. In looking on the alternative sense, what if Millhouse thought of looking out for better material possible? What if he conducted first price comparison of same material? What if he made calculations in the aggregate expenditure upon purchasing them and rather compares it with the benefits it can give and or with some?
The alternative frame could have come up with other results depending on how an individual reacts on a certain presentation of a problem. Factors affecting the alternative framework greatly molds our way of decision making. Also, group decisions may be at variance thoroughly from a one person decision in provisions of endings and/or procedures. So, it states clearly that one can strongly influence the other and by that, moral considerations are being deserted for one’s own good.
Framing. February 05, 2008 retrieved from http://framing. behaviouralfinance. net/
University/College: University of Chicago
Type of paper: Thesis/Dissertation Chapter
Date: 1 December 2016
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