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The Social Determinants of Cognitive Bias: The Effects of Low Capability on Decision Making in a Framing Experiment

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  • Plante, Charles

    (McGill University)

  • Lassoued, Rim
  • Phillips, Peter W.B.

Abstract

According to leading sociological thinking, the mind is shaped by wider society. In this study, we administer a modified version of Tversky and Kahneman’s seminal framing experiment to a large and representative sample of Canadians. Our design allows us to explore which groups of people actually exhibit different cognitive biases. We find that the majority of people in our experiment do not exhibit loss aversion bias and that several people exhibit an opposite bias we call “turtling.” Turtlers prefer smaller certain options when choices are framed as losses and larger uncertain options when they are framed as gains. People that suffer low capability, measured by a person’s risk of experiencing low income based on their socio-demographic characteristics, are far more likely to turtle than others.

Suggested Citation

  • Plante, Charles & Lassoued, Rim & Phillips, Peter W.B., 2017. "The Social Determinants of Cognitive Bias: The Effects of Low Capability on Decision Making in a Framing Experiment," SocArXiv u62cx_v1, Center for Open Science.
    • Handle: RePEc:osf:socarx:u62cx_v1
    DOI: 10.31219/osf.io/u62cx_v1
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    References listed on IDEAS

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