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The Framing of Games and the Psychology of Strategic Choice

Martin Dufwenberg, Simon Gaechter (simon.gaechter@nottingham.ac.uk) and Heike Hennig-Schmidt
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Simon Gaechter: University of Nottingham

Authors registered in the RePEc Author Service: Simon Gächter

No 2006-20, Discussion Papers from The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham

Abstract: Psychological game theory can provide a rational choice explanation of framing effects; frames influence beliefs, and beliefs influence motivations. We explain this point theoretically, and explore its empirical relevance experimentally. In a 2×2-factorial framing design of one-shot public good experiments we show that frames affect subject’s first- and second-order beliefs, and contributions. From a psychological game-theoretic framework we derive two mutually compatible hypotheses about guilt aversion and reciprocity under which contributions are related to second- and first-order beliefs, respectively. Our results are consistent with either.

Keywords: Framing; psychological games; guilt aversion; reciprocity; public good games; voluntary cooperation (search for similar items in EconPapers)
JEL-codes: C72 C91 D64 Z13 (search for similar items in EconPapers)
Date: 2006-10
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Citations: View citations in EconPapers (31)

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