Choices, Values, and Frames Quotes

“Amos and I never worked together on this topic, though we often discussed it. Our views sometimes differed, especially when the discussion touched on the role of memory in life, which Amos considered more important than I did – perhaps because his memory was so much better than mine. In his chapter with Dale Griffin (Chapter 39), Amos described life as the gradual accumulation of an endowment of memories, which is not at all the view I take (Chapter 37). One of my enduring regrets is that we never resolved the difference by studying it together. We would have come closer to “doing it right,” and it would have been a joy. Daniel Kahneman Princeton August 1999”
― Daniel Kahneman, Choices, Values, and Frames

“Regret, frustration, and self-satisfaction can also be affected by framing (Kahneman & Tversky, 1982). If”
― Daniel Kahneman, Choices, Values, and Frames

“Problem 8 (N = 200): Imagine that you have decided to see a play and paid the admission price of $10 per ticket. As you enter the theater, you discover that you have lost the ticket. The seat was not marked, and the ticket cannot be recovered. Would you pay $10 for another ticket? Yes (46%) No (54%)   Problem 9 (N = 183): Imagine that you have decided to see a play where admission is $10 per ticket. As you enter the theater, you discover that you have lost a $10 bill.   Would you still pay $10 for a ticket for the play? Yes (88%) No (12%) The difference between the responses to the two problems is intriguing. Why are so many people unwilling to spend $10 after having lost a ticket, if they would readily spend that sum after losing an equivalent amount of cash? We attribute the difference to the topical organization of mental accounts. Going to the theater is normally viewed as a transaction in which the cost of the ticket is exchanged for the experience of seeing the play. Buying a second ticket increases the cost of seeing the play to a level that many respondents apparently find unacceptable. In contrast, the loss of the cash is not posted to the account of the play, and it affects the purchase of a ticket only by making the individual feel slightly less affluent.”
― Daniel Kahneman, Choices, Values, and Frames