A note on negativity bias and framing response asymmetry

Theory and Decision 71 (2):235-250 (2011)
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Abstract

An unprocessed risk is a collection of simple lotteries with a reduction-rule that describes the actual-payoff to the decision-maker as a function of realized lottery outcomes. Experiments reveal that the willingness to pay for unprocessed risks is consistently biased toward the payoff-level in the unprocessed representation. The anchoring-to-frame bias in cases of positive framing is significantly weaker than in cases of negative framing suggesting that rational negativity bias may reflect in asymmetric violations of rationality.

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