Framing effects and the reinforcement heuristic

Carlos Alós-Ferrer, Sabine Hügelschäfer, Jiahui Li

Research output: Contribution to journalArticle

Abstract

We examine the effect of win/loss framing on individuals’ use of a reinforcement heuristic in an incentivized probability-updating task. A loss frame strengthens the basic impulse to shift away from an unsuccessful option, but only if this option was chosen freely before.

Original languageEnglish (US)
Pages (from-to)32-35
Number of pages4
JournalEconomics Letters
Volume156
DOIs
StatePublished - Jul 1 2017

Keywords

  • Bayesian updating
  • Framing
  • Reinforcement heuristic

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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