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Are Experimental Economists Prone to Framing Effects? A Natural Field Experiment

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  • Simon Gaechter

    ()
    (Centre for Decision Research and Experimental Economics, University of Nottingham)

  • Henrik Orzen

    (Centre for Decision Research and Experimental Economics, University of Nottingham)

  • Elke Renner

    (Centre for Decision Research and Experimental Economics, University of Nottingham)

  • Chris Starmer

    (Centre for Decision Research and Experimental Economics, University of Nottingham)

Abstract

An extensive literature demonstrates the existence of framing effects in the laboratory and in questionnaire studies. This paper reports new evidence from a natural field experiment using a subject pool one may consider as particularly resistant to such effects: experimental economists. We find that while the behaviour of junior experimental economists is affected by the description of the decision task they face, this is not the case for the more senior members of our subject pool.

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Bibliographic Info

Paper provided by The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham in its series Discussion Papers with number 2007-01.

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Date of creation: Apr 2007
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Handle: RePEc:not:notcdx:2007-01

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Web page: http://www.nottingham.ac.uk/economics/cedex/
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Keywords: Framing; field experiments;

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References

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  1. Frey, Bruno S. & Meier, Stephan, 2004. "Pro-social behavior in a natural setting," Journal of Economic Behavior & Organization, Elsevier, vol. 54(1), pages 65-88, May.
  2. Glenn Harrison & John List, 2004. "Field experiments," Artefactual Field Experiments 00058, The Field Experiments Website.
  3. John A. List, 2003. "Does Market Experience Eliminate Market Anomalies?," The Quarterly Journal of Economics, MIT Press, vol. 118(1), pages 41-71, February.
  4. 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.
  5. Ganzach, Yoav & Karsahi, Nili, 1995. "Message framing and buying behavior: A field experiment," Journal of Business Research, Elsevier, vol. 32(1), pages 11-17, January.
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Cited by:
  1. John A. List, 2011. "Does Market Experience Eliminate Market Anomalies? The Case of Exogenous Market Experience," NBER Working Papers 16908, National Bureau of Economic Research, Inc.
  2. John Smith, 2012. "The endogenous nature of the measurement of social preferences," Mind and Society: Cognitive Studies in Economics and Social Sciences, Fondazione Rosselli, vol. 11(2), pages 235-256, December.
  3. Berg, Nathan & Biele, Guido & Gigerenzer, Gerd, 2010. "Does Consistency Predict Accuracy of Beliefs?: Economists Surveyed About PSA," MPRA Paper 24976, University Library of Munich, Germany.
  4. Michał Krawczyk, 2012. "To answer or not to answer? A field test of loss aversion," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 29.
  5. Martin Dufwenberg & Simon Gaechter & Heike Hennig-Schmidt, 2006. "The Framing of Games and the Psychology of Strategic Choice," Discussion Papers 2006-20, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  6. Martin Dufwenberg & Simon Gaechter & Heike Hennig-Schmidt, 2010. "The Framing of Games and the Psychology of Play," Discussion Papers 2010-16, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  7. Friedel Bolle & Claudia Vogel, 2011. "Power comes with responsibility—or does it?," Public Choice, Springer, vol. 148(3), pages 459-470, September.
  8. Goerg, Sebastian J. & Walkowitz, Gari, 2010. "On the prevalence of framing effects across subject-pools in a two-person cooperation game," Journal of Economic Psychology, Elsevier, vol. 31(6), pages 849-859, December.
  9. Mathias Ekström, 2012. "Do watching eyes affect charitable giving? Evidence from a field experiment," Experimental Economics, Springer, vol. 15(3), pages 530-546, September.
  10. Guido Baltussen & G. Post & Martijn Assem & Peter Wakker, 2012. "Random incentive systems in a dynamic choice experiment," Experimental Economics, Springer, vol. 15(3), pages 418-443, September.
  11. Jefferson, Therese & Taplin, Ross, 2011. "An investigation of the endowment effect using a factorial design," Journal of Economic Psychology, Elsevier, vol. 32(6), pages 899-907.

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