Loss Aversion Fails to Replicate in the Coronavirus Pandemic: Evidence from An Online Experiment

Sanders, Michael; Stockdale, Emma; Hume, Susannah; John, Peter

doi:10.2139/ssrn.3644149

Cited by 9 publications

(12 citation statements)

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“…The three studies mentioned above test the EFEs with different research designs. While Hameleers (2020) offers a conceptual replication of Tversky and Kahneman’s Asian disease experiment – subjects were provided with two alternative scenarios in which pairs of programmes to deal with the outbreak of the pandemic were expected to result in equivalent percentages of either survivors or deaths among contaminated people – Sanders et al (2020) did not require participants to indicate their preference for specific programmes. Rather, subjects were asked to make a series of judgments about the opportunity to ease some lockdown restrictions and their intention to comply with the government’s guidelines after receiving absolute estimates of the number of lives that could be either saved (gain frame) through an extension of the lockdown or lost (loss frame) without such an extension.…”

Section: Framing Effects In Times Of Covid‐19mentioning

confidence: 99%

“…While research has shown that the COVID‐19 outbreak has affected political trust and support for both governments and their responses to the crisis (Bol et al 2020; Merkley et al 2020), it becomes relevant to understand the conditions under which public opinion is more or less likely not only to approve and comply with measures for containment of the pandemic (Hameleers 2020; Sanders et al 2020), but also to accept the health and economic costs associated with them. In this context, the extent to which local and national authorities will be able to minimise their effects on health and job security, as well as the communication styles used to present new policy initiatives, are under public scrutiny.…”

Section: Introductionmentioning

confidence: 99%

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Framing Effects on the COVID‐19 See‐Saw

Olmastroni

Guidi

Martini

et al. 2021

Swiss Political Sci Review

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This article explores people’s preferences for different containment strategies and policy programmes for managing COVID‐19 risks. Using a survey experiment administered to an online sample of 1’562 Italian respondents in April 2020, we test whether and to what extent individual preferences are influenced by different framings of equivalent scenarios on gains and losses attached to alternative policy measures aimed at containing the health and economic costs of the pandemic. We find that subjects tend to be more risk‐averse or risk‐seeking depending on whether they are confronted with a positive (gain) or a negative (loss) description of the consequences of the proposed policy initiatives. The results yield relevant implications for our understanding of citizens’ support for national and EU‐wide responses to the coronavirus pandemic and the role of framing in contexts of crisis.

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Section: Framing Effects In Times Of Covid‐19mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Framing Effects on the COVID‐19 See‐Saw

Olmastroni

Guidi

Martini

et al. 2021

Swiss Political Sci Review

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“…As institutional guidance is critical for citizens’ well-being, communication of crisis guidelines through appropriate message design, framing, and targeting is paramount for the public adoption of crisis-mitigating behaviors (Claeys and Cauberghe 2014). The same applies for nudging policies sought by national and international institutions to create default crisis-mitigating behaviors that were found effective during COVID-19 lockdowns in some countries (e.g., India; Debnath and Bardhan 2020) but not in others (e.g., the United Kingdom; Sanders et al 2021). Our findings offer one explanation for these discrepancies as adherence to institutional guidelines depends on people’s position on the political spectrum and their globalization attitudes.…”

Section: Discussionmentioning

confidence: 90%

Local Impact of Global Crises, Institutional Trust, and Consumer Well-Being: Evidence from the COVID-19 Pandemic

Davvetas¹,

Ulqinaku²,

Abi³

2021

Journal of International Marketing

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Global crises become increasingly more frequent and consequential. Yet, the impact of these crises is unevenly distributed across countries, leading to discrepancies in (inter)national crisis-regulating institutions’ ability to uphold public trust and safeguard their constituents’ well-being. Employing the paradigm of citizens as customers of political institutions, drawing on attribution and socio-political trust theories, and using the COVID-19 pandemic as empirical context, we investigate how consumers’ relative perceptions of local impact following a global crisis affect the psychological processes of institutional trust-formation and consumer well-being. Conducting one survey-based study in two countries affected disproportionately by the pandemic’s first wave (USA, Greece) and one experimental study in a third country (Italy) during the pandemic’s second wave, we find that institutional trust declines more in countries whose citizens hold perceptions of higher relative local impact following a global crisis; institutional blame attributions explain trust erosion; institutional distrust decreases consumer well-being and adherence to institutional guidelines; consumers’ globalization attitudes immunize international institutions from blame and distrust; and political conservatives transfer blame and distrust from national to international institutions amidst global crises. The findings enrich institutional branding and trust literatures and have implications for stakeholders involved in global crisis-management (policymakers, political marketers, institutional brand managers).

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“…Although recent studies have examined the effects of message framing on decision-making during the COVID-19 pandemic, the results appear to vary based on the level of uncertainty in each society and in each phase of the pandemic (e.g., Hameleers, 2021;Jordan et al, 2020;Sanders et al, 2020). For example, people were not affected by loss framing when asked about their lockdown preference and their intention to adhere to public-health guidelines (e.g., they were not likely to be risk-seeking when presented with a loss-framed message) (Sanders et al, 2020). To our knowledge, no previous study has examined how framing under these conditions (i.e., the ongoing pandemic) implicate behaviour in selfish, callous and impulsive individuals (i.e., in individuals with higher levels of the Dark Triad traits).…”

Section: The Present Studymentioning

confidence: 99%

The Dark Triad trait of psychopathy and message framing predict risky decision‐making during the COVID‐19 pandemic

et al. 2021

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T he effects of framing on risky decision-making have been studied extensively in research using Kahneman and Tversky's (1981) hypothetical scenario about a contagious Asian disease. The COVID-19 pandemic offers a unique opportunity to test how message framing affects risky decision-making when millions of real lives are at stake worldwide. In a sample of US adults (N = 294), we investigated the effects of message framing and personality (Dark Triad traits) in relation to risky decision-making during the COVID-19 crisis. We found that both gain-and loss-framing influenced risk choice in response to COVID-19. People were more risk-averse in the loss condition of the current study compared to the benchmark established by Tversky and Kahneman (1981). Among the Dark Triad traits, psychopathy emerged as the significant predictor of risk taking, suggesting that people who score high in psychopathy are more likely to gamble with other people's lives during the COVID-19 crisis. We suggest that both voters and pandemic-related public awareness campaigns should consider the possibility that decision-makers with psychopathic tendencies may take greater risks with other people's lives during a pandemic. In addition, the framing of public-health messages should be tailored to increase the chances of compliance with government restrictions.

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Loss Aversion Fails to Replicate in the Coronavirus Pandemic: Evidence from An Online Experiment

Cited by 9 publications

References 0 publications

Framing Effects on the COVID‐19 See‐Saw

Framing Effects on the COVID‐19 See‐Saw

Local Impact of Global Crises, Institutional Trust, and Consumer Well-Being: Evidence from the COVID-19 Pandemic

The Dark Triad trait of psychopathy and message framing predict risky decision‐making during the COVID‐19 pandemic

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