The Framing Effect and Background Information
Try the following two problems:
Imagine that you decided to see a concert, and you paid $20 for the admission price of one ticket. You are about to enter the theater, when you discover that you cannot find your ticket. The theater doesn’t keep a record of ticket purchases, so you cannot simply get another ticket. You have $60 in your wallet.
Would you pay $20 for another ticket for the concert?
Imagine that you decided to buy a ticket for a concert; the ticket will cost $20.
You go to the theater box office. Then you open your wallet and discover that a $20 bill is missing. (Fortunately, you still have $40 left in your wallet.) Would you pay $20 for a ticket for the concert?