Examination of Decision-Making Processes in the Context of Framing Effect: The Case of Yildiz Technical University

Mert Altun () and Meral Altan
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Mert Altun: Yildiz Technical University
Meral Altan: Yildiz Technical University

A chapter in Economic Recovery, Consolidation, and Sustainable Growth, 2023, pp 581-602 from Springer

Abstract: Abstract The theoretical debate between traditional economics and behavioral economics centers on the extent to which human decision-making is influenced by rationality versus psychological biases. Behavioral economics posits that decision-making is affected by a range of factors, including psychology, which limit rationality. The framing effect is one such factor, whereby the presentation of information in either a positive or negative manner can influence decision-making. This study aims to explore the extent to which the framing effect influences decision-making. To this end, an online survey was conducted with 119 students from Yildiz Technical University’s finance and engineering departments, with the hypothesis that finance students, due to their exposure to rationality theory, would be less influenced by the framing effect compared to engineering students. Data collected from the survey were analyzed using frequency tests, chi-square tests, and correlation analysis. The findings reveal that finance students tend to exhibit more rational behavior and are less susceptible to the framing effect compared to their engineering counterparts.

Keywords: Behavioral economics; Framing effect; Rationality (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-42511-0_38

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DOI: 10.1007/978-3-031-42511-0_38

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