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Risk preferences in self-other decisions: The effect of payoff allocation framing
Li, Haihong1,2; Yang, Yimo1,2; Liu, Dingrui3,4; Xie, Xiaofei1,2
First AuthorLi, Haihong
Correspondent Emailxiaofei@pku.edu.cn
2020-08-16
Source PublicationJOURNAL OF BEHAVIORAL DECISION MAKING
ISSN0894-3257
Subtypearticle
Pages14
QuartileQ3
Contribution Rank3
Abstract

The effect of framing is well established: Decision makers' preferences are influenced by how outcomes or attributes are phrased. In the financial domain, individuals often make decisions for themselves and for others. Therefore, decisions in a two-person context with the outcome equally allocated can be framed in two ways defined as theallocation framing: (1) self-allocation frame: making a decision for oneself, with half the payoffs shared by another person; and (2) other-allocation frame: making a decision for the other person and sharing half the payoffs. The results of six studies provided consistent evidence that people are more risk seeking in the self-allocation frame than in the other-allocation frame, and the effect was only noteworthy in the gain domain-not the loss domain. Our findings on allocation framing provide a meaningful contribution to studies of self-other decision making.

Keywordallocation framing framing effect risk preference self-other decision making
DOI10.1002/bdm.2207
Indexed BySCI
Language英语
Funding Organizationprograms of National Natural Science Foundation of China
Funding Projectprograms of National Natural Science Foundation of China[71472005] ; programs of National Natural Science Foundation of China[71772007] ; programs of National Natural Science Foundation of China[71974005]
WOS Research AreaPsychology
WOS SubjectPsychology, Applied
WOS IDWOS:000559896600001
PublisherWILEY
WOS KeywordPROSPECT-THEORY ; CHOICE ; LEVEL ; RESPONSIBILITY ; PSYCHOLOGY ; AVERSION ; BEHAVIOR ; FRAMES ; BACK
Citation statistics
Document Type期刊论文
Identifierhttp://ir.psych.ac.cn/handle/311026/32444
Collection认知与发展心理学研究室
Corresponding AuthorXie, Xiaofei
Affiliation1.Peking Univ, Sch Psychol & Cognit Sci, Beijing 100871, Peoples R China
2.Peking Univ, Beijing Key Lab Behav & Mental Hlth, Beijing 100871, Peoples R China
3.Chinese Acad Sci, Inst Psychol, Beijing, Peoples R China
4.Univ Chinese Acad Sci, Dept Psychol, Beijing, Peoples R China
Recommended Citation
GB/T 7714
Li, Haihong,Yang, Yimo,Liu, Dingrui,et al. Risk preferences in self-other decisions: The effect of payoff allocation framing[J]. JOURNAL OF BEHAVIORAL DECISION MAKING,2020:14.
APA Li, Haihong,Yang, Yimo,Liu, Dingrui,&Xie, Xiaofei.(2020).Risk preferences in self-other decisions: The effect of payoff allocation framing.JOURNAL OF BEHAVIORAL DECISION MAKING,14.
MLA Li, Haihong,et al."Risk preferences in self-other decisions: The effect of payoff allocation framing".JOURNAL OF BEHAVIORAL DECISION MAKING (2020):14.
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