Framing in the field. A simple experiment on the reflection effect

Michal Krawczyk

No 2011-14, Working Papers from Faculty of Economic Sciences, University of Warsaw

Abstract: This study makes use of an unusual opportunity to manipulate framing of a simple decision under uncertainty: whether or not to answer an exam question when unsure which answer is correct and a missing response is scored higher than an incorrect one. Two treatments were compared in a natural field experiment: one in which the decision was framed in terms of losses, and the other – in terms of gains. Some alternative theories of decision making under risk, notably prospect theory, propose that individuals display reflection effect, i.e. tend to be more risk-seeking in losses than gains. No such evidence was found: subjects were generally risk-averse and this disposition was not affected by treatment.

Keywords: framing; reflection effect; field experiments (search for similar items in EconPapers)
JEL-codes: C93 D81 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2011
New Economics Papers: this item is included in nep-exp and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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http://www.wne.uw.edu.pl/inf/wyd/WP/WNE_WP54.pdf First version, 2011 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:war:wpaper:2011-14

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