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Framing decisions: Hypothetical and real

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  • Kuhberger, Anton
  • Schulte-Mecklenbeck, Michael
  • Perner, Josef
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    Bibliographic Info

    Article provided by Elsevier in its journal Organizational Behavior and Human Decision Processes.

    Volume (Year): 89 (2002)
    Issue (Month): 2 (November)
    Pages: 1162-1175

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    Handle: RePEc:eee:jobhdp:v:89:y:2002:i:2:p:1162-1175

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    1. Tversky, Amos & Kahneman, Daniel, 1986. "Rational Choice and the Framing of Decisions," The Journal of Business, University of Chicago Press, vol. 59(4), pages S251-78, October.
    2. Sarah Lichtenstein & Paul Slovic, 1973. "Response-induced reversals of preference in gambling: An extended replication in las vegas," Framed Field Experiments 00169, The Field Experiments Website.
    3. Paese, Paul W. & Sniezek, Janet A., 1991. "Influences on the appropriateness of confidence in judgment: Practice, effort, information, and decision-making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 48(1), pages 100-130, February.
    4. Grether, David M & Plott, Charles R, 1979. "Economic Theory of Choice and the Preference Reversal Phenomenon," American Economic Review, American Economic Association, vol. 69(4), pages 623-38, September.
    5. Levin, Irwin P. & Schneider, Sandra L. & Gaeth, Gary J., 1998. "All Frames Are Not Created Equal: A Typology and Critical Analysis of Framing Effects," Organizational Behavior and Human Decision Processes, Elsevier, vol. 76(2), pages 149-188, November.
    6. Payne, John W & Bettman, James R & Schkade, David A, 1999. "Measuring Constructed Preferences: Towards a Building Code," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 243-70, December.
    7. Loewenstein, George & Adler, Daniel, 1995. "A Bias in the Prediction of Tastes," Economic Journal, Royal Economic Society, vol. 105(431), pages 929-37, July.
    8. Loewenstein, George, 1996. "Out of Control: Visceral Influences on Behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 65(3), pages 272-292, March.
    9. Battalio, Raymond C & Kagel, John H & Jiranyakul, Komain, 1990. " Testing between Alternative Models of Choice under Uncertainty: Some Initial Results," Journal of Risk and Uncertainty, Springer, vol. 3(1), pages 25-50, March.
    10. van Dijk, Wilco W. & van der Pligt, Joop, 1997. "The Impact of Probability and Magnitude of Outcome on Disappointment and Elation," Organizational Behavior and Human Decision Processes, Elsevier, vol. 69(3), pages 277-284, March.
    11. Pommerehne, Werner W & Schneider, Friedrich & Zweifel, Peter, 1982. "Economic Theory of Choice and the Preference Reversal Phenomenon: A Reexamination," American Economic Review, American Economic Association, vol. 72(3), pages 569-74, June.
    12. Hans Binswanger, 1980. "Attitudes toward risk: Experimental measurement in rural india," Artefactual Field Experiments 00009, The Field Experiments Website.
    13. Wiseman, David B. & Levin, Irwin P., 1996. "Comparing Risky Decision Making Under Conditions of Real and Hypothetical Consequences," Organizational Behavior and Human Decision Processes, Elsevier, vol. 66(3), pages 241-250, June.
    14. Harrison, Glenn W, 1994. "Expected Utility Theory and the Experimentalists," Empirical Economics, Springer, vol. 19(2), pages 223-53.
    15. Robin M. Hogarth & Hillel J. Einhorn, 1990. "Venture Theory: A Model of Decision Weights," Management Science, INFORMS, vol. 36(7), pages 780-803, July.
    16. Grether, David M., 1992. "Testing bayes rule and the representativeness heuristic: Some experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 17(1), pages 31-57, January.
    17. Camerer, Colin F. & Hogarth, Robin M., 1999. "The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework," Working Papers 1059, California Institute of Technology, Division of the Humanities and Social Sciences.
    18. Kuhberger, Anton & Schulte-Mecklenbeck, Michael & Perner, Josef, 1999. "The Effects of Framing, Reflection, Probability, and Payoff on Risk Preference in Choice Tasks, ," Organizational Behavior and Human Decision Processes, Elsevier, vol. 78(3), pages 204-231, June.
    19. Wilcox, Nathaniel T, 1993. "Lottery Choice: Incentives, Complexity and Decision Time," Economic Journal, Royal Economic Society, vol. 103(421), pages 1397-1417, November.
    20. Sieck, Winston & Yates, J. Frank, 1997. "Exposition Effects on Decision Making: Choice and Confidence in Choice," Organizational Behavior and Human Decision Processes, Elsevier, vol. 70(3), pages 207-219, June.
    21. Paese, Paul W., 1995. "Effects of Framing on Actual Time Allocation Decisions," Organizational Behavior and Human Decision Processes, Elsevier, vol. 61(1), pages 67-76, January.
    22. Richard H. Thaler & Eric J. Johnson, 1990. "Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice," Management Science, INFORMS, vol. 36(6), pages 643-660, June.
    23. Arkes, Hal R. & Blumer, Catherine, 1985. "The psychology of sunk cost," Organizational Behavior and Human Decision Processes, Elsevier, vol. 35(1), pages 124-140, February.
    24. Beattie, Jane & Loomes, Graham, 1997. "The Impact of Incentives upon Risky Choice Experiments," Journal of Risk and Uncertainty, Springer, vol. 14(2), pages 155-68, March.
    25. Smith, Vernon L & Walker, James M, 1993. "Monetary Rewards and Decision Cost in Experimental Economics," Economic Inquiry, Western Economic Association International, vol. 31(2), pages 245-61, April.
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    Cited by:
    1. Booij, Adam S. & van de Kuilen, Gijs, 2009. "A parameter-free analysis of the utility of money for the general population under prospect theory," Journal of Economic Psychology, Elsevier, vol. 30(4), pages 651-666, August.
    2. Tubetov, Dulat & Maart, Syster Christin & Musshoff, Oliver, 2012. "Comparison of the investment behavior of Kazakhstani and German farmers: An experimental approach," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 125218, International Association of Agricultural Economists.
    3. Kogler, Christoph & Kühberger, Anton & Gilhofer, Rainer, 2013. "Real and hypothetical endowment effects when exchanging lottery tickets: Is regret a better explanation than loss aversion?," Journal of Economic Psychology, Elsevier, vol. 37(C), pages 42-53.
    4. Mathieu Lefebvre & Ferdinand Vieider & Marie-Claire Villeval, 2009. "Incentive Effects on Risk Attitude in Small Probability Prospects," Post-Print halshs-00435957, HAL.
    5. Deparis, Stéphane & Mousseau, Vincent & Öztürk, Meltem & Pallier, Christophe & Huron, Caroline, 2012. "When conflict induces the expression of incomplete preferences," European Journal of Operational Research, Elsevier, vol. 221(3), pages 593-602.
    6. Ali Ahmed, 2007. "Decisions under unpredictable losses: An examination of the restated diversification principle," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 2, pages 312-316, October.
    7. Baucells, Manel & Rata, Cristina, 2004. "Framing and stakes: A survey study of decisions under uncertainty," IESE Research Papers D/568, IESE Business School.
    8. Anastassiadis, Friederieke & Feil, Jan-Henning & Musshoff, Oliver & Schilling, Philipp, 2013. "Analysing farmers' use of price hedging instruments: an experimental approach," DARE Discussion Papers 1306, Georg-August University of Göttingen, Department of Agricultural Economics and Rural Development (DARE).
    9. Anastassiadis, Friederike & Liebe, Ulf & Musshoff, Oliver, 2012. "Finanzielle Flexibilität In Landwirtschaftlichen Investitionsentscheidungen: Ein Discrete Choice Experiment," 52nd Annual Conference, Stuttgart, Germany, September 26-28, 2012 137142, German Association of Agricultural Economists (GEWISOLA).
    10. McAlvanah, Patrick, 2009. "Are people more risk-taking in the presence of the opposite sex?," Journal of Economic Psychology, Elsevier, vol. 30(2), pages 136-146, April.
    11. Bhandari, Gokul & Deaves, Richard, 2008. "Misinformed and informed asset allocation decisions of self-directed retirement plan members," Journal of Economic Psychology, Elsevier, vol. 29(4), pages 473-490, August.
    12. Hans-Rüdiger Pfister & Gisela Böhm, 2012. "Responder Feelings in a Three-Player Three-Option Ultimatum Game: Affective Determinants of Rejection Behavior," Games, MDPI, Open Access Journal, vol. 3(1), pages 1-29, February.
    13. Vlaev, Ivo, 2012. "How different are real and hypothetical decisions? Overestimation, contrast and assimilation in social interaction," Journal of Economic Psychology, Elsevier, vol. 33(5), pages 963-972.

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