마스터 제목 스타일 편집 마스터 텍스트 스타일을 편집합니다 둘째 수준 셋째 수준 넷째 수준 다섯째 수준 The Framing of Decisions and the Psychology of Choice - Amos Tversky and Daniel Kahneman

Summary The Evaluation of Prospects The Framing of Acts The Framing of Contingencies The Framing of Outcomes

Summary Risk aversion and risk taking

The Evaluation of Prospects Prospect theory Losses is more extreme than the response to gains ( loss aversion ) +$10, +$20 > +$110, +$120

The Evaluation of Prospects A hypothetical weighting function Low probabilities are overweighted, High probabilities are underweighted The probabilities of outcomes are Subjectively assessed rather than explicitly given

The Framing of Acts Risk aversion & seeking Decisions were combined

The Framing of Contingencies The certainty effect and the pseudocertainty effect The sense of certainty associated with option C is illusory Problem 6 = Problem 7

The Framing of Outcomes The value function is steeper for losses than for gains Lost $140, And is considering a $10 bet on a 15:1 long shot in the last race The price difference be labeled a cash discount rather than a credit – card surcharge A discount of $5 has a greater impact when the price of the calculator low than when it is high

Discussion Decision Factor - variations in the framing of acts, contingencies, and outcomes. -characteristic nonlinearities of values and decision weights. Preference - have a different preference in a different framing of the same problem. - Are unaware of alternative frames and of their potential effects - Would wish their preferences to be independent of frame Rational choice - Consistency – only aspect of the lay notion of rational behavior - “what do I really want”  “what will I feel then?”