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.
- Sprache
-
Englisch
- Erschienen in
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Series: Economics Discussion Papers ; No. 2013-47
- Klassifikation
-
Wirtschaft
General Economics: General
Related Disciplines
- Thema
-
expected utility theory
prospect theory
fuzzy trace theory
certainty effect
framing effect
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ramirez, Patrick A.
Levine, Daniel S.
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel Institute for the World Economy (IfW)
- (wo)
-
Kiel
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Ramirez, Patrick A.
- Levine, Daniel S.
- Kiel Institute for the World Economy (IfW)
Entstanden
- 2013
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