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Framing Effects (framing + effects)
Selected AbstractsDeal or No Deal, That is the Question: The Impact of Increasing Stakes and Framing Effects on Decision-Making under RiskINTERNATIONAL REVIEW OF FINANCE, Issue 1-2 2009ROBERT BROOKS ABSTRACT In this paper, we utilize data from the Australian version of the TV game show, ,Deal or No Deal', to explore risk aversion in a high real stakes setting. An attractive feature of this version of the game is that supplementary rounds may occur which switch the decision frame of players. There are four main findings. First, we observe that the degree of risk aversion generally increases with stakes. Second, we observe considerable heterogeneity in people's willingness to bear risk , even at very high stakes. Third, we find that age and gender are statistically significant determinants of risk aversion, while wealth is not. Fourth, we find that the reversal of framing does have a significant impact on people's willingness to bear risk. [source] More Than Weighting Cognitive Importance: A Dual-Process Model of Issue Framing EffectsPOLITICAL PSYCHOLOGY, Issue 1 2008Rune Slothuus Issue frames in policy discourse and news reporting regularly influence citizens' political opinions. Yet, we only have a limited understanding of how and among whom these framing effects occur. I propose a dual-process model of issue framing effects arguing that we must understand mediators of framing (the how question) in connection with individual-level moderators of framing (the whom question). Experimental results show that issue framing affects opinion through different psychological processes depending on who the receiver of the frame is. Among the moderately politically aware or those having weak political values, framing effects were mediated through processes of changing importance of considerations as well as changing content of considerations. Among the highly aware, only the importance change process mediated framing effects, while there were no framing effects among those least aware or those having strong values. [source] When the glass is half-empty: Framing effects and evaluations of a romantic partner's attributesPERSONAL RELATIONSHIPS, Issue 3 2001C. RAYMOND KNEE Two studies examined how the framing of information influences evaluations of hypothetical relationships. Studies 1 (n= 183) and 2 (n= 247) examined how the framing of a hypothetical partner's attributes in gains or loss terms influences (a) impressions of the future success of the relationship and (b) the perceived importance of the partner's attributes. Generally, participants were less pessimistic about a relationship's future success when the partner's attributes were framed in gains terms than when framed in loss terms, even though the attributes were objectively identical in each case. Participants also attached significantly more importance to intelligence when it was missing among a partner's strengths than when it was present, particularly when the attribute was presented in a loss frame. This research has important implications for the integration of the decision-making and relationship cognition literatures. [source] Effects of valence and framing in decision-making: Assessing decision-makers' perceived domains of choiceJAPANESE PSYCHOLOGICAL RESEARCH, Issue 4 2002Kimihiko Yamagishi Abstract:, In comparison between choice alternatives, judgments of "How much better is a preferred option?" and "How much worse is a less preferred option?" may differ in their magnitudes. Such discrepancies are called "valence effects". Previously,Yamagishi and Miyamoto (1996) observed systematic positive valence effects ("Better" exceeding "Worse") in the domain of gains and systematic negative valence effects ("Worse" exceeding "Better") in the domain of losses. The current experiments used the directions of valence effects as a tool to assess decision-maker's interpretation of choice tasks under "framing effects" (Tversky & Kahneman, 1986). Preferences under the framing effect switch from certain options in the domain of gains to uncertain options in the domain of losses. Two experiments showed that preferences for certain options were associated with positive valence effects, whereas preferences for uncertain options were associated with negative valence effects. Moreover, conditions wherein the framing manipulations lose the effectiveness were examined. Valence effects showed that framing effects ceased to occur when decision-makers maintained consistent domain perceptions as pertaining to gains or to losses, across the domains of gains and losses. Implications are discussed. [source] Effects of Message Framing on Breast-Cancer-Related Beliefs and Behaviors: The Role of Mediating FactorsJOURNAL OF APPLIED SOCIAL PSYCHOLOGY, Issue 5 2001Tracy Williams The effects of gain-loss message framing on breast-cancer-related cognitions and behaviors were assessed among 539 women aged 30 to 70 years. The design involved a prebrochure telephone interview, followed by a brochure mailout, and a postbrochure telephone interview. The brochures contained information about breast cancer and the risk of family history. Recommended behaviors were framed to emphasize gains, losses, or were neutral; and statistical risk information was presented either positively or negatively. Measures included demographics, family history, breast self-examination (BSE) performance, BSE intention, self-efficacy in performing BSE, perceived early detection risk of breast cancer, perceived susceptibility to breast cancer, and anxiety about breast cancer. A loss-framed message led to greater positive change in BSE behavior. Interactions between framing effects and variables of issue involvement, perceived early detection risk, and self-efficacy indicated effects on behavior, but not beliefs. [source] On undesirable consequences of thinking: framing effects as a function of substantive processingJOURNAL OF BEHAVIORAL DECISION MAKING, Issue 2 2007Eric R. Igou Abstract Three studies investigate the impact of effortful constructive processing on framing effects. The results replicated previous findings: Participants avoided the risky option when the scenario was framed in terms of gains, but preferred this option when the scenario was framed in terms of losses. Importantly, framing effects were most pronounced when conditions allowed for an effortful constructive processing style (i.e., substantive processing). This impact of decision frames varied when decision time served as an indicator for the elaboration extent (Study 1), and also when processing motivation (accountability; Study 2) and processing ability (decision time; Study 3) were manipulated. Moreover, effortful processing did not increase framing effects when contextual cues reduced the necessity for constructive thinking (Study 1). We suggest that decision frames may take on very different roles as a function of the ambiguity of the decision problem, and the degree and style of processing. Copyright © 2006 John Wiley & Sons, Ltd. [source] Incidental framing effects and associative processes: a study of attribute frames in broadcast news storiesJOURNAL OF BEHAVIORAL DECISION MAKING, Issue 4 2005Sandra L. Schneider Abstract Most studies of the effects of framing decision alternatives either positively or negatively have focused on planned, intentional evaluations of those alternatives. To better understand these effects, we broadened the range of investigation to focus on the kinds of incidental evaluations that often occur in real-world contexts. Participants listened to one of four variations of a campus radio news broadcast, ostensibly to provide input for future programming. The stories in each broadcast included the same basic facts, but those facts were carefully phrased to create two positively and two negatively framed stories per broadcast. Based on an associative processing account, we hypothesized that valence-consistent framing effects would occur even though participants did not expect to evaluate the content of the stories. Results supported this hypothesis, with mixed evidence that the effects may generalize to related university experiences. We conclude that framing effects are likely to result from automatic valence-encoding processes coupled with inferential processes that help make sense of the larger context within which the description of an alternative is embedded. Copyright © 2005 John Wiley & Sons, Ltd. [source] The Effect of Life Cycle Cost Information on Consumer Investment Decisions Regarding Eco-InnovationJOURNAL OF INDUSTRIAL ECOLOGY, Issue 1 2010Josef Kaenzig Summary Life cycle cost (LCC) computations are a well-established instrument for the evaluation of intertemporal choices in organizations, but they have not been widely adopted by private consumers yet. Consumer investment decisions for products and services with higher initial costs and lower operating costs are potentially subject to numerous cognitive biases, such as present-biased preferences or framing effects. This article suggests a classification for categorizing different cost profiles for eco-innovation and a conceptual model for the influence of LCC information on consumer decisions regarding eco-innovation. It derives hypotheses on the decision-making process for eco-innovation from a theoretical perspective. To verify the hypotheses, the publication reviews empirical studies evaluating the effects of LCC information on consumer investment decisions. It can be concluded that rather than finding ways to make customers pay more for environmentally sound products, the marketing challenge for eco-innovation should be reconceptualized as one of lowering customers' perceived initial cost and increasing awareness of LCC. Most existing studies report a positive effect of LCC information on the purchase likelihood of eco-innovations. Disclosing LCC information provides an important base for long-term thinking on the individual, corporate, and policy levels. [source] More Than Weighting Cognitive Importance: A Dual-Process Model of Issue Framing EffectsPOLITICAL PSYCHOLOGY, Issue 1 2008Rune Slothuus Issue frames in policy discourse and news reporting regularly influence citizens' political opinions. Yet, we only have a limited understanding of how and among whom these framing effects occur. I propose a dual-process model of issue framing effects arguing that we must understand mediators of framing (the how question) in connection with individual-level moderators of framing (the whom question). Experimental results show that issue framing affects opinion through different psychological processes depending on who the receiver of the frame is. Among the moderately politically aware or those having weak political values, framing effects were mediated through processes of changing importance of considerations as well as changing content of considerations. Among the highly aware, only the importance change process mediated framing effects, while there were no framing effects among those least aware or those having strong values. [source] Stated values and reminders of substitute goods: Testing for framing effects with choice modellingAUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 1 2002John Rolfe Choice modelling, a non-market valuation technique, is used to explore framing issues in the context of environmental valuations. Choice modelling appears to have promise in simultaneously valuing a pool of substitute amenities and goods. Describing choices according to component attributes can also help to frame choices according to a number of trade-offs. The statistical information available helps to determine where framing effects have occurred. Three choice modelling experiments were reviewed to show that framing effects may be more widespread in non-market valuation studies than is commonly thought. [source] | |||||||||||||