Meta-analysis examining the relationship between framing effect and risky decisions

Xiaoqian Ding, Menghan Li and Junyi Qiao

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2025, vol. 116, issue C

Abstract: This study employed a meta-analysis to investigate the relationship between the framing effect and risky decisions. A systematic searched was conducted for relevant literature published in 12 electronic databases: Google Scholar, ProQuest Dissertations, Springer, Web of Science, PubMed, EBSCO, Elsevier SDOL, Chongqing VIP Information Co., WANFANG DATA, Chinese Selected Doctoral Dissertations and Master's Theses Full-Text Databases, and the China National Knowledge Infrastructure. A total of 40 relevant studies were identified, comprising a sample of 17,416 participants. The analysis employing the random-effects model revealed a statistically significant main effect of the framing effect on risky decisions (OR = 2.467). The moderator effect analysis revealed that problem domains and age served as moderating factors in the relationship between risky decisions and the framing effect, respectively. Culture, however, did not exert a moderating influence on the framing effect or risky decision-making. Specifically, individuals exhibited heightened susceptibility to the framing effect when making risky decisions in the problem domain of life-death, as compared to the problem domains of study and money. Adolescents, in contrast, were more vulnerable to the framing effect in making risky decisions than adulthood.

Keywords: Framing effect; Risky decision; Meta-analysis; Moderating analysis; Age; Problem domains; Culture (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:116:y:2025:i:c:s2214804325000187

DOI: 10.1016/j.socec.2025.102351

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