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Theories Used to Explain the Framing Effect

In: Behavioral Decision Theory

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  • Kazuhisa Takemura

    (Waseda University)

Abstract

Chapter 10 introduced empirical studies of the framing effectFraming effect. This chapter will explain the reasons why the framing effect occurs. Tversky[aut]Tversky, A. and Kahneman[aut]Kahneman, D. (1981) explained the framing effectFraming effect based on prospect theoryProspect theory (Kahneman & Tversky,[aut]Tversky, A. 1979, Tversky & Kahneman, 1992), which they proposed. This chapter will first use this prospect theory to explain the framing effect, and subsequently use the contingent focus[aut]Takemura, K model (Takemura, 1994; Takemura & Fujii, 1999, 2015)––an[aut]Fujii, S. alternative explanation to prospect theory––for the explanation and introduce the empirical research related to this model.

Suggested Citation

  • Kazuhisa Takemura, 2021. "Theories Used to Explain the Framing Effect," Springer Books, in: Behavioral Decision Theory, edition 2, chapter 0, pages 147-157, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-5453-4_11
    DOI: 10.1007/978-981-16-5453-4_11
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