This video is about how 'framing bias' a.k.a. 'framing effect' makes us choose irrational choices and bad decisions. Gain Frames stop us from taking risky decisions but Loss frames nudge us towards making irrational, and often risky decisions.

Chapter wise details are:
0:00 The deadly pathogen problem
3:47 Bernoulli's irrational man
9:19 When Kahneman Met Tversky
13:03 KEEP vs LOSE Frames
16:13 SURVIVAL vs MORTALITY frames


References:

1. O'Connor, John J.; Robertson, Edmund F., "Daniel Bernoulli", MacTutor History of Mathematics archive, University of St Andrews (1998)

2. "Exposition of a New Theory on the Measurement of Risk" (PDF). Econometrica. 22 (1): 23–36. doi:10.2307/1909829. JSTOR 1909829.

3. Roiser, J.P., de Martino, B., Tan, G.C.Y., Kumaran, D., Seymour, B., Wood, N.W., Dolan, R.J. (2009). A Genetically Mediated Bias in Decision Making Driven by Failure of Amygdala Control.J NEUROSCI, 29 (18), 5985-5991. doi:10.1523/JNEUROSCI.0407-09.2009

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5. Tversky A, Kahneman D (1981) The framing of decisions and the psychology of choice. Science 211:453–458.

6. De Martino B, Kumaran D, Seymour B, Dolan RJ (2006) Frames, biases, and rational decision-making in the human brain. Science 313:684–687.

7. Kahneman, D., & Tversky, A. (2013). Prospect theory: An analysis of decision under risk. In Handbook of the fundamentals of financial decision making: Part I (pp. 99-127).

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9. On the Elicitation of Preference for Alternative Therapies June 1982 New England Journal of Medicine 306(21):1259-62; DOI:10.1056/NEJM198205273062103

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