Experimental Strategy for Investigating the Neural Basis of Framing Effects

Sacha Bourgeois-Gironde and Elise Payzan
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Elise Payzan: LSE - London School of Economics and Political Science

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Abstract: We investigate subjective reactions when subjects realize they have been victims of framing-effects in situations of risky choices - that is, when they violated the invariance principle in decision-theory. We try to assess various explanations of this violation in terms of bounded rationality and cognitive biases. One criterion we use in our assessment is a feeling of cognitive discomfort subjects may have after norm infringement. In ourexperimental study of framing effects, it is crucial to confront these "feelings of irrationality" and contextual reasons (moral and/or emotional) subjects may give to justify their violation of the invariance principle.

Keywords: debriefings; framing effects; cognitive biases; bounded rationality; debriefings. (search for similar items in EconPapers)
Date: 2005-07-10
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Published in Summer School of Behavioral Economics, Jul 2005, Budapest, Central European University

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