Journal ArticleDOI
The Framing of Decisions and the Psychology of Choice
Amos Tversky,Daniel Kahneman +1 more
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The psychological principles that govern the perception of decision problems and the evaluation of probabilities and outcomes produce predictable shifts of preference when the same problem is framed in different ways.Abstract:
The psychological principles that govern the perception of decision problems and the evaluation of probabilities and outcomes produce predictable shifts of preference when the same problem is framed in different ways. Reversals of preference are demonstrated in choices regarding monetary outcomes, both hypothetical and real, and in questions pertaining to the loss of human lives. The effects of frames on preferences are compared to the effects of perspectives on perceptual appearance. The dependence of preferences on the formulation of decision problems is a significant concern for the theory of rational choice.read more
Citations
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Journal ArticleDOI
Do Loss-Framed Persuasive Messages Engender Greater Message Processing Than Do Gain-Framed Messages? A Meta-Analytic Review
TL;DR: In a meta-analytic review, the authors found that gain-framed messages engender slightly but significantly greater message engagement than do loss-frameed messages, but this effect was not a result of whether the appeals refer to obtaining or averting negative (e.g., “skin cancer”) rather than positive outcomes.
Journal ArticleDOI
The directionality of verbal probability expressions: Effects on decisions, predictions, and probabilistic reasoning.
Karl Halvor Teigen,Wibecke Brun +1 more
TL;DR: Verbal probabilistic phrases differ from numerical probabilities not primarily by being more "vague," but by suggesting more clearly the kind of inferences that should be drawn.
Journal ArticleDOI
Visual and Auditory Message Framing Effects on Tobacco Smoking1
Tamera R. Schneider,Peter Salovey,Unto E. Pallonen,Norbert Mundorf,Nelson F. Smith,Wayne T. Steward +5 more
TL;DR: In this paper, the effects of message framing on beliefs, attitudes, and behaviors relevant to cigarette smoking were examined. But, they focused on the benefits of adopting a health behavior rather than the risks of not adopting it (losses).
Journal ArticleDOI
Benefit and cost analysis in geriatric care. Turning age discrimination into health policy.
TL;DR: A large number of the questioned patients believe that the use of quantitative methods to guide the allocation of health-care resources should be considered as a waste of time and money.
Journal ArticleDOI
Research Commentary—Informing Privacy Research Through Information Systems, Psychology, and Behavioral Economics: Thinking Outside the “APCO” Box
TL;DR: This work proposes an enhanced APCO model and a set of related propositions that consider both deliberative and low-effort cognitive responses inspired by frameworks and theories in behavioral economics and psychology that also affect privacy decisions.
References
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Book ChapterDOI
Prospect theory: an analysis of decision under risk
Daniel Kahneman,Amos Tversky +1 more
TL;DR: In this paper, the authors present a critique of expected utility theory as a descriptive model of decision making under risk, and develop an alternative model, called prospect theory, in which value is assigned to gains and losses rather than to final assets and in which probabilities are replaced by decision weights.
Book
Judgment Under Uncertainty: Heuristics and Biases
Amos Tversky,Daniel Kahneman +1 more
TL;DR: The authors described three heuristics that are employed in making judgements under uncertainty: representativeness, availability of instances or scenarios, and adjustment from an anchor, which is usually employed in numerical prediction when a relevant value is available.
Journal ArticleDOI
Prospect theory: analysis of decision under risk
Daniel Kahneman,Amos Tversky +1 more
Book
Theory of Games and Economic Behavior
TL;DR: Theory of games and economic behavior as mentioned in this paper is the classic work upon which modern-day game theory is based, and it has been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations.
Journal ArticleDOI
A Behavioral Model of Rational Choice
TL;DR: In this article, a model for the description of rational choice by organisms of limited computational ability is proposed, and the model is used to describe rational choice in organisms with limited computational abilities.