Rational Choice and the Framing of Decisions

Tversky, Amos; Kahneman, Daniel

doi:10.1007/978-3-642-74919-3_4

Cited by 911 publications

(1,074 citation statements)

References 49 publications

(56 reference statements)

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“…The collapsing effect asserts (in the context of gains) that if the common outcome collapses with an outcome of one of the gambles, then this gamble become less attractive. This biases violations of the STP, for, if there is a choice question where one gamble has an outcome that collapses with the common outcome, the collapsing effect predicts that subjects will be biased in favor of the gamble that has no collapse (Tversky and Kahneman, 1986; Within columns, t is significantly different from *, using Tukey's HSD at the .05 level. Starmer and Sugden, 1989).…”

Section: Resultsmentioning

confidence: 99%

A test of rank-dependent utility in the context of ambiguity

Fennema

Wakker

1996

J Risk Uncertainty

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Experimental investigations of non-expected utility have primarily concentrated on decision under risk Uprobability triangles"). The literature suggests, however, that ambiguity is one of the main causes for deviations from expected utility (EUt. This article investigates the descriptive performance of rank-dependent utility (RDU) in the context of choice under ambiguity. We use the axiomatic difference between RDU and EU to critically test RDU against EU. Surprisingly, the RDU model does not provide any descriptive improvement over EU. Our data suggest other "framing" factors that do provide descriptive improvements over EU.In the past decades, students of individual choice have demonstrated that preference behavior deviates from Expected Utility theory (EU). In response, various generalizations and alternatives to EU have been put forward. Axioms that are thought to be descriptively invalid have been weakened to accommodate the observed violations. For most theorists, the independence axiom is the major culprit, exemplified by the Allais and Ellsberg paradoxes. In the early 1980s, several new models have been proposed that weaken the independence axiom, thus generalizing EU. Two major kinds of transitive generalizations have emerged: betweenness models and rank-dependent models.Recently, empirical research is cumulating that tests whether the new proposals are able to explain the experimental facts found thus far (Camerer and Ho, 1994). Most of this research can be summarized using so-called probability triangles. These triangles employ three outcomes that are kept constant. Gambles are constructed by varying the probabilities assigned to these outcomes. Most of the theories considered can be tested by observing preference behavior on selected pairs of gambles from these triangles. The overall picture emerging from this research is that none of the generalized expected utility theories can explain all the systematic violations that have been discovered. The betweenness condition, for example, is found to be systematically violated (Camerer and Ho, 1994). The rank-dependent models (RDU), especially the new version of prospect theory, Cumulative Prospect theory, are at the moment probably the leading contender for best descriptive theory. However, some remarks must be made.

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Section: Resultsmentioning

confidence: 99%

A test of rank-dependent utility in the context of ambiguity

Fennema

Wakker

1996

J Risk Uncertainty

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“…There is now a considerable amount of evidence of a whole host of framing effects (see, for example, Tversky and Kahneman, 1986) and it may be that the apparent disparity between the results in the present article and previous patterns of violation of independence may not take us nearer to the goal of a single unified model, but may instead testify to the infeasibility of such a goal.…”

Section: Resultsmentioning

confidence: 64%

Evidence of a new violation of the independence axiom

Loomes

1991

J Risk Uncertainty

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AbstraclDuring the past 40 years there has been an accumulation of experimental evidence suggesting that most of the axioms of expected utility theory are liable to be systematically violated by substantial numbers of individuals. Much of this evidence has focused on failures of the independence axiom and has stimulated a number of alternative models that try to explain that evidence invarious ways. This article presents a fresh experiment that looks at a different kind of violation-one that does not appear to be easily accommodated by several of the more prominent alternative models as they are currently formulated.

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“…Essa conotação de efeito de configuração é a mais prevalente na literatura psicológica (Entman, 1993;Takemura, 2014), especialmente na psicologia econômica, em cujos estudos o efeito de configuração vem sendo usado para explicar variações na tomada de decisão em consumidores, por exemplo (Gonzalez, Dana, Koshino, & Just, 2005). Em um estudo conduzido nos Estados Unidos, o modelo do efeito de configuração foi testado, verificando-se que as pessoas rejeitavam mais um programa político quando era dito que resultaria em 5% de desemprego do que quando era dito que resultaria em 95% de empregabilidade (Tversky & Kahneman, 1986). No Brasil, poucos estudos foram realizados com essa abordagem (para uma revisão, ver : Tonetto, Brust, & Stein, 2010;Tonetto & Stein, 2012).…”

Section: Efecto De Configuración En El Apoyo Del Matrimonio De Personunclassified

Efeito de configuração no apoio ao casamento de pessoas do mesmo sexo em universitários brasileiros

Costa

Catelan

Araujo

et al. 2017

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Este artigo está licenciado sob forma de uma licença Creative Commons Atribuição 4.0 Internacional, que permite uso irrestrito, distribuição e reprodução em qualquer meio, desde que a publicação original seja corretamente citada. http://creativecommons.org/licenses/by/4.0/deed.pt_BR Artigo originAl ISSN 1980-8623 ResumoEfeito de configuração refere-se ao impacto que a forma de apresentar um tópico tem sobre a opinião. Esta pesquisa investigou o efeito de configuração no endosso ao reconhecimento legal das uniões de pessoas do mesmo sexo em uma população universitária brasileira composta por pessoas com diferentes níveis de preconceito. Foram usados três diferentes configurações: homoafetivo, homossexual e pessoas do mesmo sexo. Oito mil e oitenta e dois estudantes universitários do sul do Brasil responderam a um questionário sociodemográfico, escala de preconceito contra diversidade sexual e de gênero e randomicamente deram sua opinião sobre o tópico em questão. Não foram encontradas diferenças no nível de endosso às configurações. No entanto, grupos historicamente associados a menor apoio à diversidade sexual e de gênero e pessoas com atitudes mais negativas em relação à diversidade sexual e de gênero endossaram menos essas uniões. Portanto, a maneira como a questão é enquadrada não influencia o endosso à reivindicação da união de pessoas do mesmo sexo.Palavras-chave: efeito de configuração; preconceito, homoafetividade; homossexualidade; casamento. Issue frame effect in the support of same-sex marriage among Brazilian undergraduates AbstractFraming effect refers to the impact that the presentation of a topic has on the opinions of individuals. The objective of this research was to evaluate the presence of the framing effect on the endorsement to legal recognition of same-sex unions in a Brazilian university population. It took into account three different frames: homosexual; homoaffective and same sex. Eight thousand and eighty-two college students from southern Brazil answered a sociodemographic questionnaire, a prejudice against sexual and gender diversity scale and randomly gave their opinion about homosexual; homoaffective; or, same sex marriage. There were no differences in the level of endorsement of the frames, however, groups historically associated with lower support to sexual and gender diversity, and those with more negative attitudes towards sexual and gender diversity endorsed least these unions. Therefore, the way the question is framed does not influence the endorsement to legal recognition of same-sex unions.Keywords: framing effect; prejudice; homoaffection; homosexuality; marriage. Efecto de configuración en el apoyo del matrimonio de personas del mismo sexo en universitarios brasileños ResumenEfecto de configuración se refiere al impacto que la manera de presentar un tema tiene en la opinión. La investigación estudió el efecto de configuración en el respaldo del reconocimiento jurídico de las uniones entre personas del mismo sexo en una población universitaria brasileña formada por pers...

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Rational Choice and the Framing of Decisions

Cited by 911 publications

References 49 publications

A test of rank-dependent utility in the context of ambiguity

A test of rank-dependent utility in the context of ambiguity

Evidence of a new violation of the independence axiom

Efeito de configuração no apoio ao casamento de pessoas do mesmo sexo em universitários brasileiros

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