Accounting for Framing-Effects - an informational approach to intensionality in the Bolker-Jeffrey decision model
We suscribe to an account of framing-effects in decision theory in terms of an inference to a background informationa by the hearer when a speaker uses a certain frame while other equivalent frames were also available. This account was sketched by Craig McKenzie. We embed it in Bolker-Jeffrey decision model (or logic of action) - one main reason of this is that this latter model makes preferences bear on propositions. We can deduce a given anomaly or cognitive bias (namely framing-effects) in a formal decision theory. This leads to some philosophical considerations on the relationship between the rationality of preferences and the sensitivity to descriptions or labels of states of affairs (intensionality) in decision-making.
|Date of creation:||23 Dec 2005|
|Date of revision:|
|Note:||View the original document on HAL open archive server: http://jeannicod.ccsd.cnrs.fr/ijn_00000656|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Raphaël Giraud, 2004. "Framing under risk : Endogenizing the Reference Point and Separating Cognition and Decision," Cahiers de la Maison des Sciences Economiques bla04090, Université Panthéon-Sorbonne (Paris 1).
- Marc Le Menestrel & Luk N. Van Wassenhove, 2001.
"The domain and interpretation of utility functions: An exploration,"
Economics Working Papers
576, Department of Economics and Business, Universitat Pompeu Fabra.
- Marc Le Menestrel & Luk Van Wassenhove, 2001. "The Domain and Interpretation of Utility Functions: An Exploration," Theory and Decision, Springer, vol. 51(2), pages 329-349, December.
- Gold, Natalie & List, Christian, 2004.
"Framing as Path Dependence,"
Economics and Philosophy,
Cambridge University Press, vol. 20(02), pages 253-277, October.
- Barton L. Lipman, 1999. "Decision Theory without Logical Omniscience: Toward an Axiomatic Framework for Bounded Rationality," Review of Economic Studies, Oxford University Press, vol. 66(2), pages 339-361.
When requesting a correction, please mention this item's handle: RePEc:hal:cesptp:ijn_00000656. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)
If references are entirely missing, you can add them using this form.