G2TT
来源类型Discussion paper
规范类型论文
来源IDDP7112
DP7112 A test of narrow framing and its origin
Luigi Guiso
发表日期2009
出版年2009
语种英语
摘要I provide a test of narrow framing to explain why individuals turn down small positive expected value lotteries. Participants in a large survey have been asked whether they would accept a small lottery of winning 180 euros with probability of 1/2 or losing 100 euros with the same probability. To half of the sample, randomly selected, the lottery question was asked at the beginning of the interview; the other half made the decision immediately after they were asked to think about and report their subjective probability distribution of future earnings. Consistent with narrow framing, I find that individuals that were induced to bring their earnings risk to mind before facing the decision are significantly less likely to turn it down. Furthemore, only those who actually say they are uncertain about their incomes are less likely to reject the lottery. I show that attitudes towards regret and reliance on intuition rather than reasoning are likely to drive the tendency to frame choices narrowly.
主题Financial Economics ; International Macroeconomics
关键词Intuitive thinking Loss aversion Narrow framing Reasoning Regret
URLhttps://cepr.org/publications/dp7112
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/535949
推荐引用方式
GB/T 7714
Luigi Guiso. DP7112 A test of narrow framing and its origin. 2009.
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