ISSN 1671-3710
CN 11-4766/R

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 •     Next Articles

New Avenues for Framing Effect Research in Decision-making: From Risky to Intertemporal and from Verbal to Graph Framing

LIU Yang;SUN Yan   

  1. (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)
  • Received:2014-04-26 Online:2014-08-15 Published:2014-08-15
  • Contact: SUN Yan


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.

Key words: framing effect, risky decision-making, intertemporal decision-making, graph framing effect, equate-to-differentiate model, prospect theory