Arbeitspapier
A review of the certainty effect and influence of information processing
This review considers two explanations for behavioral decision-making in reference to the certainty and framing effects. The findings from various paradigms such as a single questionnaire, gambles with repetition, and gambles guided by feedback are explained either by prospect theory or by expected utility theory. Finally this review attempts to account for the different findings and offers a possible explanation for the conflicting results by considering the role of experience which in turn can alter how information in processed as described by fuzzy trace theory which is a dual process theory of reasoning.
- Language
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Englisch
- Bibliographic citation
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Series: Economics Discussion Papers ; No. 2013-47
- Classification
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Wirtschaft
General Economics: General
Related Disciplines
- Subject
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expected utility theory
prospect theory
fuzzy trace theory
certainty effect
framing effect
- Event
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Geistige Schöpfung
- (who)
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Ramirez, Patrick A.
Levine, Daniel S.
- Event
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Veröffentlichung
- (who)
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Kiel Institute for the World Economy (IfW)
- (where)
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Kiel
- (when)
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2013
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Ramirez, Patrick A.
- Levine, Daniel S.
- Kiel Institute for the World Economy (IfW)
Time of origin
- 2013
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