Choices, values, and frames Export

@article{citeulike:3575275, abstract = {Discusses the cognitive and the psychophysical determinants of choice in risky and riskless contexts. The psychophysics of value induce risk aversion in the domain of gains and risk seeking in the domain of losses. The psychophysics of chance induce overweighting of sure things and of improbable events, relative to events of moderate probability. Decision problems can be described or framed in multiple ways that give rise to different preferences, contrary to the invariance criterion of rational choice. The process of mental accounting, in which people organize the outcomes of transactions, explains some anomalies of consumer behavior. In particular, the acceptability of an option can depend on whether a negative outcome is evaluated as a cost or as an uncompensated loss. The relationships between decision values and experience values and between hedonic experience and objective states are discussed. (27 ref)}, author = {Kahneman, Daniel and Tversky, Amos}, citeulike-article-id = {3575275}, citeulike-linkout-0 = {http://dx.doi.org/10.1037/0003-066X.39.4.341}, citeulike-linkout-1 = {http://psycontent.metapress.com/content/r8414t8112306876}, day = {1}, doi = {10.1037/0003-066X.39.4.341}, journal = {American Psychologist}, keywords = {cognitive\_bias, descriptive\_decision\_theory, framing, taxicab\_problem}, month = {April}, number = {4}, pages = {341--350}, posted-at = {2008-11-18 18:31:35}, priority = {2}, title = {Choices, values, and frames}, url = {http://dx.doi.org/10.1037/0003-066X.39.4.341}, volume = {39}, year = {1984} }

TY - JOUR ID - citeulike:3575275 L3 - citeulike-article-id:3575275 N2 - Discusses the cognitive and the psychophysical determinants of choice in risky and riskless contexts. The psychophysics of value induce risk aversion in the domain of gains and risk seeking in the domain of losses. The psychophysics of chance induce overweighting of sure things and of improbable events, relative to events of moderate probability. Decision problems can be described or framed in multiple ways that give rise to different preferences, contrary to the invariance criterion of rational choice. The process of mental accounting, in which people organize the outcomes of transactions, explains some anomalies of consumer behavior. In particular, the acceptability of an option can depend on whether a negative outcome is evaluated as a cost or as an uncompensated loss. The relationships between decision values and experience values and between hedonic experience and objective states are discussed. (27 ref) IS - 4 JF - American Psychologist EP - 350 TI - Choices, values, and frames VL - 39 SP - 341 KW - cognitive_bias KW - descriptive_decision_theory KW - framing KW - taxicab_problem AU - Kahneman, Daniel AU - Tversky, Amos PY - 1984/04/01/ UR - http://dx.doi.org/10.1037/0003-066X.39.4.341 ER -