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The certainty effect It refers to favoring certain events over very probable ones. People are more likely to choose options that bring a certain profit than options with a lower probability but a higher profit. This is due to the fact that people are reluctant to face loss and experience it much more severely than success - so they remain in a safe comfort zone. This is also noticeable in the case of loyalty to a given brand and prejudice towards other companies whose offer could be better. Reflection effect Making decisions that will minimize losses, even if the chance of them occurring is slim.

Isolation effect Also called framing. It involves changing preferences depending on the way a given option is philippines photo editor presented. People tend to focus on the differences rather than the similarities of given options, which is usually easier for them. This leads to different perspectives and influences the final decision. The stronger effect Also known as the Bandwagon effect - acting or thinking in a way that makes it consistent with another group of people. This is related to social proof, which we wrote about in this article . Use of prospect theory – examples How can you use the knowledge of prospect theory in your business to influence the decision-making of potential consumers? We give you a hint.



Offer a discount on subsequent purchases if a customer signs up for your mailing list you create the effect of certainty that they will receive a certain benefit . Encourage people to buy more than one copy of a product by providing them with a discount. Offer free shipping above a certain order value, which can motivate consumers to buy more products. Create a loyalty program and from time to time reward your most loyal customers.