Theories Used to Explain the Framing Effect

Kazuhisa Takemura
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Kazuhisa Takemura: Waseda University

Chapter Chapter 10 in Behavioral Decision Theory, 2014, pp 115-124 from Springer

Abstract: Abstract Chapter 9 introduced empirical studies of the framing effect. This chapter will explain the reasons why the framing effect occurs. Tversky and Kahneman (1981) explained the framing effect based on prospect theory (Kahneman and Tversky 1979, 1992), which they proposed. This chapter will first use this prospect theory to explain the framing effect, and subsequently use the contingent focus model (Takemura 1994; Takemura and Fujii 1999, 2001a)––an alternative explanation to prospect theory––for the explanation and introduce the empirical research related to this model.

Keywords: Framing Effects; Prospect Theory; Positive Framing Condition; Negative Frame Condition; Multiple Reference Points (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-4-431-54580-4_10

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DOI: 10.1007/978-4-431-54580-4_10

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