EconPapers    
Economics at your fingertips  
 

The Framing Effect of Decision Making

Kazuhisa Takemura
Additional contact information
Kazuhisa Takemura: Waseda University

Chapter Chapter 10 in Behavioral Decision Theory, 2021, pp 131-143 from Springer

Abstract: Abstract The body of utility theoryUtility theory that explains the phenomenon of decision makingDecision making has developed new theories such as nonlinear utility theoryNonlinear utility theory to explain decision making under uncertaintyUncertainty. There is, however, a phenomenon called the framing effectFraming effect which cannot be explained in its essence by the body of utility theoryUtility theory. The framing effect refers to phenomena in which preference is reversed even for the same decision makingDecision making problem because of changes in perspectives resulting from differences in the linguistic expressionsLinguistic expression used to describe the decision making problem, resulting in varied results of decision making. This chapter reports the findings of studies of behavioral decision-making theory, including the reasons underlying the inability of utility theoryUtility theory to explain the framing effectFraming effect, the observed intensity of the framing effectFraming effect, and the types of factors affecting the framing effect.

Keywords: Framing effect; Utility theory; Linguistic expression; Mental accounting; Hedonic framing (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-5453-4_10

Ordering information: This item can be ordered from
http://www.springer.com/9789811654534

DOI: 10.1007/978-981-16-5453-4_10

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2025-04-02
Handle: RePEc:spr:sprchp:978-981-16-5453-4_10