Framing Effect – Definition The framing effect is a form of cognitive bias that affects decision-making. You can ask a question or present facts and data differently with the framing effect. For example, if surgery has 20% risks, you can frame this information as “80%-risk free” or “20% risk.” The framing effect will lead people […]
Author Archives: Fadi Mansour
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Hindsight bias is a cognitive bias that causes individuals to believe that past events were predictable even though they were not. This type of thinking can cause an individual to ignore information or fail to explore all available options fully. Hindsight bias is related to the “hindsight illusion” concept-the belief that we possess more knowledge […]
Introduction Trade flows are a fundamental part of any economy. Due to this, researchers remain keenly engaged in uncovering the intricate details as to what determines and shapes this critical aspect of the global economy. The gravity model of international trade is one of the leading tools for the empirical investigation of international trade flows. […]