A Note on Negativity Bias and Framing Response Asymmetry
نویسندگان
چکیده
An “unprocessed risk” is 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 towards 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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