Problem Domain and Prospect Frame: Choice under Opportunity versus Threat

Publisher Website
Google Scholar
Abstract
This investigation considered the impact of alternative problem domains on choice by crossing prospect frame (loss vs. gain) witth problem domain (threat vs. opportunity) in afactorial design. In responding to traditional framing problems, proble-msposing explicit threats), subjects faced with gain prospects have generally been thought to presuppose losses or shift their reference point downward. Abelson and Levi have suggested that, similarly, subjects might be expected to presuppose gains or shift their reference point upward when faced with problems that pose explicit opportunities. Choices in this study were consistent with this prediction. However, measures aimed at assessing the interpretations of framing problems did not support the presumed shifts in reference point. Moreover, evidence was found for a problem domain effect on overall risk seeking in one problem arena (obs), but no such effect was found in another problem arena (money).

This publication has 16 references indexed in Scilit: