The Social Security Administration sets the early retirement age â the youngest age that you can start collecting Social Security â at 62 years old. However, if you take benefits before your full retirement age â which ranges from 65 years old to 67 years old depending on the year you were born â your monthly benefit will be reduced.
FRAMING EFFECTS A âframing effectâ is usually said to occur when equivalent descriptions of a decision problem lead to systematically different decisions.
(Compiled for Management 360). The Basics. Framing theory and the concept of framing bias suggests that how something is presented (the frame) influences the choices people make. This idea is important because it is contrary to the central concept of of rational choice theory.