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The Overton window is an approach to identifying the ideas that define the spectrum of acceptability of governmental policies. It says politicians can act only within the acceptable range. Shifting the Overton window involves proponents of policies outside the window persuading the public to expand the window. Proponents of current policies, or ...
The novel is based on the Overton window concept in political theory, in which at any given moment there is a range of policies related to any particular issue that is considered politically acceptable ("in the window"), and other policies that politicians seeking to gain or hold public office do not feel they can recommend without being ...
At the time Thaler's conceptualisation of the endowment effect was in direct contrast to that of accepted economic theory, which assumed humans were completely rational when making decisions. Through his contrasting viewpoint, Thaler was able to offer a clearer understanding of how humans make economic decisions.
Framing effect (psychology) The framing effect is a cognitive bias in which people decide between options based on whether the options are presented with positive or negative connotations. [1] Individuals have a tendency to make risk-avoidant choices when options are positively framed, while selecting more loss-avoidant options when presented ...
A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. [1] Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the objective input, may dictate their behavior in the world. Thus, cognitive biases may sometimes lead to perceptual ...
Behavioral Finance Lessons in Bubbles. Bubbles clearly have an emotional component, and to paraphrase Dan Ariely, humans may be irrational, but they are predictably irrational. There are five ...
Nudge theory is a concept in behavioral economics, decision making, behavioral policy, social psychology, consumer behavior, and related behavioral sciences that proposes adaptive designs of the decision environment (choice architecture) as ways to influence the behavior and decision-making of groups or individuals.
Hallin's spheres, which deals with the media, are similar to the Overton window, which deals with public opinion generally, and posits a sliding scale of public opinion on any given issue ranging from conventional wisdom to unacceptable. Hallin used the concept of framing to describe the presentation and reception of issues in public. For ...