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Content Effects and Individual Differences in Risky Decision Making
Stockholm University, Faculty of Social Sciences, Department of Psychology.
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2008 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

In decision making it is crucial that individuals are able to make consistent choices invariant of the phrasing of decision problems. The framing effect involves a tendency to make different decisions depending on whether the decision problem is formulated in terms of gains or losses. Thus, the effect poses a threat to consistency in choice behaviour. The present study aims to examine possible moderating effects of decision content. Participants (N = 88) were presented to the Asian disease scenario or an equivalent scenario in a financial context. Individual differences in Need for Cognition and valuation of money were also explored. There was a significant difference in framings between scenarios. No significant association between framings and Need for Cognition scores or subjective valuations of money were found. The present study suggests that content has an effect on choice behaviour. Future studies need to further explore content effects in different domains to increase knowledge of key features.

Place, publisher, year, edition, pages
Stockholm: Psykologiska institutionen , 2008. , 21 p.
Keyword [en]
Framing, content effect, Need for Cognition, decision making
National Category
URN: urn:nbn:se:su:diva-8065OAI: diva2:199525
Available from: 2008-06-18 Created: 2008-06-18Bibliographically approved

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