Framing effects in decision-making under risk
Author(s):
Tal Yarkoni
Field:
Judgment/Decision-making
Name/description of effect:
People exhibit risk-averse behavior when choosing between certain and uncertain rewards, and risk-seeking behavior when choosing between certain and uncertain losses.
Year(s) of attempted replication(s):
2005
Number of experiments:
2
Replication status:
Full replication
Sample size(s):
60, 90
Brief summary of experiment(s):
Two unpublished experiments tested the framing effect in a video game-like context where participants made repeated choices between rewards and/or losses. The framing effect was incidental to other hypotheses (which weren't confirmed by the results), but was successfully replicated.