Please wait a minute...
Advances in Psychological Science    2014, Vol. 22 Issue (8) : 1205-1217     DOI: 10.3724/SP.J.1042.2014.01205
Special Column for Decision-making Psychology |
New Avenues for Framing Effect Research in Decision-making: From Risky to Intertemporal and from Verbal to Graph Framing
LIU Yang;SUN Yan
(1 Key Laboratory of Behavioral Science, Institute of Psychology, Chinese Academy of Sciences, Beijing 100101, China) (2 College of Humanities & Social Sciences, University of Chinese Academy of Science, Beijing 100049, China)
Download: PDF(392 KB)  
Export: BibTeX | EndNote | Reference Manager | ProCite | RefWorks    
Abstract  

The description invariance principle, which is one of the axioms of normative economic theory, requires that equivalent descriptions of a problem yield the same preference ordering. However, several studies have revealed that people often violate the invariance principle in real world decision-making. This action is known as preference-framing effects in decision-making. We reviewed new findings on the framing effect in the field of risky and intertemporal decision-making. We presented the framing effect research with a verbal as well as graphical frame. We also introduced compensatory models (e.g., prospect theory) and non-compensatory models (e.g., equate-to-differentiate model) as the psychological mechanism. This review encourages future researchers to extend the study of framing effects.

Keywords framing effect      risky decision-making      intertemporal decision-making      graph framing effect      equate-to-differentiate model      prospect theory     
Corresponding Authors: SUN Yan   
Issue Date: 15 August 2014
Service
E-mail this article
E-mail Alert
RSS
Articles by authors
LIU Yang
SUN Yan
Cite this article:   
LIU Yang,SUN Yan. New Avenues for Framing Effect Research in Decision-making: From Risky to Intertemporal and from Verbal to Graph Framing[J]. Advances in Psychological Science, 2014, 22(8): 1205-1217.
URL:  
http://journal.psych.ac.cn/xlkxjz/EN/10.3724/SP.J.1042.2014.01205     OR     http://journal.psych.ac.cn/xlkxjz/EN/Y2014/V22/I8/1205
[1] XU Fuming; SHI Yanwei; LI Ou; ZHANG Hui; LI Yan. Mechanisms and measures of the public’ sense of income unfairness: Dual viewpoint of reference dependence and loss aversion[J]. Advances in Psychological Science, 2016, 24(5): 665-675.
[2] WANG Huifang; JIANG Jingchuan. Framing effect in elderly adults[J]. Advances in Psychological Science, 2016, 24(4): 612-621.
[3] DENG Ying; XU Fu-Ming; LI Ou; SHI Yan-Wei; LIU Cheng-Hao. The framing effect on social preferences[J]. Advances in Psychological Science, 2016, 24(4): 622-632.
[4] LI Bin; XU Fuming; WANG Wei; ZHANG Hui; LUO Hanbing. Decision Making Processing and Individual Differences: The Perspective of Fuzzy-trace Theory[J]. Advances in Psychological Science, 2015, 23(2): 316-324.
[5] A Bu-Lai-Ti-Jiang; LIU Yang; ZHU Xiao-Rui; ZHENG Rui; LIANG Zhu-Yuan; RAO Li-Lin; WU Bin; LI Shu. The Effect of Self on Intertemporal Choice from the Perspective of Cultural Individualism-collectivism[J]. Advances in Psychological Science, 2015, 23(11): 1981-1990.
[6] SHI Yanwei;XU Fuming;LI Yan;LIU Chenghao;LI Bin. The Framing Effect in the Public Decision-making : Theoretical Explanation and Influential Factors[J]. Advances in Psychological Science, 2014, 22(8): 1303-1311.
[7] XIE Xiaofei;LU Jingyi. Double Reference Points in Risky Decision Making[J]. Advances in Psychological Science, 2014, 22(4): 571-579.
[8] LI Aimei; ZHAO Dan; XIONG Guanxing; TAN Fei; WANG Xiaotian; LING Wenquan. Is Waiting A Kind of Torture? Perceived Waiting Time and the Resulting Irrational Decision Making[J]. Advances in Psychological Science, 2014, 22(11): 1679-1690.
[9] X. T. WANG;WANG Peng. Tri-Reference Point Theory of Decision Making: From Principles to Applications[J]. Advances in Psychological Science, 2013, 21(8): 1331-1346.
[10] LI Haijun;XU Fuming;XIANG Peng;KONG Shixiao;MENG Zhenzhen. Reference Dependence Based on Prospect Theory[J]. Advances in Psychological Science, 2013, 21(2): 317-325.
[11] CAI Hou-De;ZHANG Quan;CAI Qi;CHEN Qing-Rong. Iowa Game Task and Cognitive Neural Mechanisms on Decision-making[J]. Advances in Psychological Science, 2012, 20(9): 1401-1410.
[12] YU Hui-Hui;XU Fu-Ming;HUANG Bao-Zhen;WEN Gui-Chan;WANG Lan. The Individual Differences of the Framing Effect[J]. , 2012, 20(6): 894-901.
[13] SUN Yan;HUANG Li;LIU Yang. Graph-framing Effects in Decision Making[J]. Advances in Psychological Science, 2012, 20(11): 1718-1726.
[14] WANG Lu-Lu;LI Yong-Juan. The Effect of Mental Fatigue and Framing on Risk Decision-making[J]. Advances in Psychological Science, 2012, 20(10): 1546-1550.
[15] HUANG Zhi-Hua;YAN Gong-Gu;WANG Tian-Le. Decisions from Experience: Concept, Researches and Prospect[J]. , 2011, 19(12): 1814-1821.
Viewed
Full text


Abstract

Cited

  Shared   
  Discussed   
Copyright © Advances in Psychological Science
Support by Beijing Magtech