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The impact of mathematical competences and cognitive effort on the appearance of the framing effect

Kaczmarek Aleksander, Przybyszewski Krzysztof (), Rutkowska Dorota and Sosnowska Honorata ()
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Kaczmarek Aleksander: Copernicus Science Center, Wybrzeże Kościuszkowskie 20, 00-390 Warsaw, Poland
Przybyszewski Krzysztof: Kozminski University, Center for Economic Psychology and Decision Sciences, ul. Jagiellońska 57/59, 03-301 Warsaw, Poland
Rutkowska Dorota: Warsaw University, Faculty of Psychology, Department of Cognitive Psychology, ul. Stawki 5/7, 00-183 Warsaw, Poland
Sosnowska Honorata: Warsaw School of Economics, Collegium of Economic Analysis, Department of Mathematics and Mathematical Economics, al. Niepodległości 162, 02-554 Warsaw, Poland

Economics and Business Review, 2018, vol. 4, issue 2, 64-79

Abstract: The aim of this paper is to check whether mathematical competences influence some manifestations of bounded rationality. A special example of bounded rationality called “framing effect” is dealt with to analyze empirically the thesis that mathematical competences and cognitive effort may reduce the framing effect. Two kinds of cognitive effort: probabilistic and deductive are analysed. Experiments were conducted using samples of Polish students, both mathematically and business oriented. As an example of a framing situation an example called “Asian disease”, (the first analyzed and the most popular example of the framing effect), is considered. The thesis that a mathematical background may diminish the occurrence of the framing effect was partly confirmed.

Keywords: bounded rationality; framing effect; experiment (search for similar items in EconPapers)
Date: 2018
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