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Thoughtful Days and Valenced Nights: How Much Will You Think About the Problem?


  • Todd McElroy
  • David L. Dickinson


Research investigating risk preference has pointed towards motivation and ability as important factors for determining the strength and likelihood of the framing effect. In the current study we explored the influence of individual differences in motivation and ability through circadian rhythm. We predicted that during circadian off-times participants would exhibit stronger framing effects whereas framing effects would be relatively weaker during on-times. Six-hundred and eighty five individuals took part in the study; the findings supported our hypothesis, revealing a diurnal pattern of risk responding that varies across the 24-hour circadian cycle. Key Words:

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  • Todd McElroy & David L. Dickinson, 2010. "Thoughtful Days and Valenced Nights: How Much Will You Think About the Problem?," Working Papers 10-06, Department of Economics, Appalachian State University.
  • Handle: RePEc:apl:wpaper:10-06

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    References listed on IDEAS

    1. Oechssler, Jörg & Roider, Andreas & Schmitz, Patrick W., 2009. "Cognitive abilities and behavioral biases," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 147-152, October.
    2. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
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    Cited by:

    1. Marco Castillo & David L. Dickinson & Ragan Petrie, 2017. "Sleepiness, choice consistency, and risk preferences," Theory and Decision, Springer, vol. 82(1), pages 41-73, January.
    2. repec:eee:eecrev:v:97:y:2017:i:c:p:57-71 is not listed on IDEAS
    3. Mehdi Hossain & Ritesh Saini, 2014. "Suckers in the morning, skeptics in the evening: Time-of-Day effects on consumers’ vigilance against manipulation," Marketing Letters, Springer, vol. 25(2), pages 109-121, June.

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