What’s on the Decision Making poster
A definition and 6 facts worth remembering.
Prospect theory describes decisions under risk: outcomes are evaluated as gains and losses from a reference point, with losses weighted more heavily and probabilities distorted.
- Loss aversion: losses weigh roughly twice as much as gains.
- The reference point determines what counts as a gain or loss.
- Framing the same choice as a gain or a loss reverses preferences.
- Small probabilities are overweighted; large ones underweighted.
- People are risk-averse for gains, risk-seeking for losses.
- Expected utility theory predicts none of this.
- Loss aversion — ~2:1
- Reference — sets gain/loss
- Predicts — framing effects
- The same treatment described as '90% survive' or '10% die' produces different choices…
The endowment effect follows directly: giving something up is coded as a loss, so people demand more to sell than to buy.
Questions about the Decision Making poster
- What’s on the Decision Making poster?
- A definition and 6 facts worth remembering. Prospect theory describes decisions under risk: outcomes are evaluated as gains and losses from a reference point, with losses weighted more heavily and probabilities distorted. Loss aversion: losses weigh roughly twice as much as gains.; The reference point determines what counts as a gain or loss.; Framing the same choice as a gain or a loss reverses preferences.; Small probabilities are overweighted; large ones underweighted.; People are risk-averse for gains, risk-seeking for losses.; Expected utility theory predicts none of this.; Loss aversion — ~2:1; Reference — sets gain/loss; Predicts — framing effects; The same treatment described as '90% survive' or '10% die' produces different choices…. The endowment effect follows directly: giving something up is coded as a loss, so people demand more to sell than to buy.
- Who is the Decision Making poster for?
- Decision Making belongs to the Psychology section rather than to a school year, because life science is not something one grade owns. Anyone learning cognitive can pin it up — a beginner, a student mid-course, or someone revising years later.
- When should you use the Decision Making poster?
- Losses hurt about twice as much as equivalent gains please. That asymmetry drives most of it. A wall chart earns its place by being glanceable from where the work is happening, so Decision Making belongs on the wall where that life science work actually happens, within glancing distance, rather than filed away.
- What other posters go with Decision Making?
- Attention, Cognitive Load and Dual Process Theory sit alongside Decision Making in the Psychology section. Printed together they make a wall rather than a single sheet, which is how a reference set actually gets used.AttentionCognitive LoadDual Process Theory
- Is the Decision Making poster free to download and print?
- Yes. Decision Making downloads as a free PDF with no account, no email and no watermark, like everything else in the Psychology section. Print as many copies as you like for a home, a classroom, a library or a tutoring group; reselling the file is the only thing the licence rules out.Read the licence
- What size does the Decision Making poster print at?
- Decision Making is a vector PDF laid out for US Letter, and prints on A4 with Fit to page — the same file, no separate download. Because every mark on it is drawn rather than photographed, it stays sharp enlarged to A3, A2 or A1 at a copy shop. Colour carries emphasis only, so a greyscale print of Decision Making loses nothing.Printing guide
Related posters
Charts that sit alongside Decision Making on the same wall.
Browse every Psychology poster, or start from the full catalogue.