The effect of decision frame and decision justification on risky choice

Abstract

The purpose of this study was to examine the effect of decision frame, decision justification on risky choice. Subjects were 158 men and women. The results were as follows.(1) In the condition where no justification was requested, a framing effect (Tversky & Kahneman, 1981) was observed: Most of the subjects chose the riskless option when decision options were phrased positively in terms of gains, whereas most of the subjects chose the risky option when options were phrased negatively in terms of losses.(2) However, in the condition where justification was requested, the framing effect was not observed: Most of the subjects showed a consistent choice pattern.(3) The subjects in the justification-requested condition tended to choose risky option more often than the subjects in the no justification-requested condition did.

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