The Framing Effect of Decision Making

Kazuhisa Takemura
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Kazuhisa Takemura: Waseda University

Chapter Chapter 9 in Behavioral Decision Theory, 2014, pp 103-114 from Springer

Abstract: Abstract The body of utility theory that explains the phenomenon of decision making has developed new theories such as nonlinear utility theory to explain decision making under uncertainty. There is, however, a phenomenon called the framing effect which cannot be explained in its essence by the body of utility theory. The framing effect refers to phenomena in which preference is reversed even for the same decision making problem because of changes in perspectives resulting from differences in the linguistic expressions used to describe the decision making problem, resulting in varied results of decision making.

Keywords: Test Subject; Utility Theory; Linguistic Expression; Framing Effect; Frame Condition (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-4-431-54580-4_9

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