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The framing effect in risky decision making

General data

Course ID: 2500-PL-PS-FO2-01
Erasmus code / ISCED: 14.4 Kod klasyfikacyjny przedmiotu składa się z trzech do pięciu cyfr, przy czym trzy pierwsze oznaczają klasyfikację dziedziny wg. Listy kodów dziedzin obowiązującej w programie Socrates/Erasmus, czwarta (dotąd na ogół 0) – ewentualne uszczegółowienie informacji o dyscyplinie, piąta – stopień zaawansowania przedmiotu ustalony na podstawie roku studiów, dla którego przedmiot jest przeznaczony. / (0313) Psychology The ISCED (International Standard Classification of Education) code has been designed by UNESCO.
Course title: The framing effect in risky decision making
Name in Polish: Efekt sformułowania w podejmowaniu decyzji, czyli rzecz o odwracaniu kota ogonem
Organizational unit: Faculty of Psychology
Course groups: (in Polish) Fakultety ogólnoakademickie
(in Polish) Psychologia Poznawcza
ECTS credit allocation (and other scores): 3.00 Basic information on ECTS credits allocation principles:
  • the annual hourly workload of the student’s work required to achieve the expected learning outcomes for a given stage is 1500-1800h, corresponding to 60 ECTS;
  • the student’s weekly hourly workload is 45 h;
  • 1 ECTS point corresponds to 25-30 hours of student work needed to achieve the assumed learning outcomes;
  • weekly student workload necessary to achieve the assumed learning outcomes allows to obtain 1.5 ECTS;
  • work required to pass the course, which has been assigned 3 ECTS, constitutes 10% of the semester student load.
Language: Polish
Type of course:

elective courses
Prerequisites (description):

The elective course in the field of cognitive psychology for the 2nd, 3rd, 4th and 5th year students.


The completion of the lectures on "Cognitive Psychology" and would be an advantage.


The capability of reading in English is necessary to participate in the course.
Mode:

Classroom
Short description:

The framing effect in risky decision making is a cognitive bias described by Tversky and Kahneman (1981, 1986). It consists in the shift of the preference for risk taking depending on whether the same decision problem is formulated (i.e. framed) in gains (gain domain) or in losses (loss domain). The course is designed to discuss the nature of the framing effect, the psychological processes underlying its emergence and the factors which reduce a decision maker's susceptibility to the impact of the frames.
Bibliography:
Learning outcomes:

Students

- provide the definitione of the risky choice framing effect

- distinguish three types of the framing effect

- identify signs of particular types of framing effects

- report the origin of the framing effect in the light of the models discussed during the classes

- point to the factors which lead to reducing the effect

- comprehend the processes which may lead to the reducing the effect

- plan research on the determinants of the framing effect

- design decision scenarios which allow to examine the framing effect

- critically evaluate research procedures which are applied in studies on the risky choice framing effect
Practical placement: (in Polish)

brak

Classes in period "Winter semester 2023/24" (past)

Time span: 2023-10-01 - 2024-01-28
Selected timetable range:
Navigate to timetable
Type of class:
Classes, 30 hours more information
Coordinators: (unknown)
Group instructors: Dorota Rutkowska
Students list: (inaccessible to you)
Examination: Course - Grading
Classes - Grading
Full description:

The framing effect in risky decision making is a cognitive bias described first by Tversky and Kahneman (1981, 1986). It consists in the shift of the preference for risk taking depending on whether the same decision problem is formulated (i.e. framed) in gains (gain domain) or in losses (loss domain). In gain domain people tend to prefer risk avoidance but in loss domain they become risk seeking. Apart from risky decision making, the framing effect is observed in research on persuasion (goal framing effect and attribute framing effect).

The course is designed to discuss the nature of the framing effect, the psychological processes underlying its emergence and the factors which reduce a decision maker's susceptibility to the impact of the frames
Bibliography:

Core readings

LITERATURA PODSTAWOWA

- Kahneman, D. (2013). Pułapki myślenia. O myśleniu szybkim i wolnym (s. 369-382). Poznań: Media Rodzina.

- Rutkowska, D., Przybyszewski, K. (2015). Efekt sformułowania (framing effect): zaangażowanie poznawczego wysiłku a wpływ kontekstualnych informacji o zysku lub stracie na podejmowanie decyzji. Psychologia Społeczna, 10, 3(34), 248-265.

- Sokołowska, J. (2005). Psychologia decyzji ryzykownych. Ocena prawdopodobieństwa i modele wyboru w sytuacji ryzykownej (s. 113-124). Warszawa: Wydawnictwo SWPS Academica.

- Tyszka, T. (2010). Decyzje. Perspektywa psychologiczna i ekonomiczna (s. 122-125). Warszawa: Wydawnictwo Naukowe: Scholar.

LITERATURA DO POSZCZEGÓLNYCH ZAJĘĆ

1.& 2.

- Tversky, A., Kahneman, D. (1981). The framing of decisions and the psychology of choice. Science, 211, 453-458.

- Levin, I. P., Schneider, S. L., Gaeth, G. J. (1998). All frames are not created equal: A typology and critical analysis of framing effects. Organizational Behavior And Human Decision Processes, 76(2), 149-188.

- Maule, J., Villejoubert, G. (2007). What lies beneath: Reframing framing effects. Thinking & Reasoning, 13(1), 25-44.

3. McElroy, T., Seta, J. J. (2007). Framing the frame: How task goals determine the likelihood and direction of framing effects. Judgment and Decision Making, 2(4), 251-256.

4. Takemura, K. (1994). Influence of elaboration on the framing of decision. The Journal of Psychology, 128(1), 33-39.

5. Simon, A. F., Fagley, N. S., Halleran, J. G. (2004). Decision framing: Moderating effects of individual differences and cognitive processing. Journal of Behavioral Decision Making, 17(2), 77-93.

6. McElroy, T., Seta, J. J. (2003). Framing effects: An analytic – holistic perspective. Journal of Experimental Social Psychology, 39(6), 610-617.

7. Kuo, F-Y., Hsu, Ch-W, Day, R-F., (2009). An exploratory study of cognitive effort involved in decision under framing – an application of an eye-tracking technology. Decision Support System, 48, 81-91.

8. Gonzalez, C., Dana, J., Koshino, H. i Just, M. (2005). The framing effect and risky decisions: examining cognitive functions with fMRI. Journal of Economic Psychology, 26(1), 1-20.

9. Igou, E. R., Bless, H. (2007). On undesirable consequences of thinking: framing effects as a function of substantive processing. Journal of Behavioral Decision Making, 20(2), 125-142.

10. Fagely, N. S., Coleman, J. G., Simon, A. F. (2010). Effects of framing, perspective taking, and perspective (affective focus) on choice. Personality and Individual Differences, 48(3), 264–269.

11. Kühberger, A., Gradl, P. (2013). Choice, rating and ranking: framing effects with response modes. Journal of Behavioral Decision Making, 26(2), 109-117.

12. Meyers-Levy, J., Maheswaran, D. (2004). Exploring message framing outcomes when systematic, heuristic, or both types of processing occur. Journal of Consumer Psychology, 14(1 i 2), 159-167

13. Keller, P. A., Lipkus, I. M., Rimer, B. K. (2003). Affect, framing, and persuasion. Journal of Marketing Research, 40(1), 54-64.

14. Levin, I. P., Gaeth, G. J., Schreiber, J., Lauriola, M. (2002). A new look at framing effects: distribution of effect sizes, individual differences, and independence of types of effects. Organizational Behavior and Human Decision Processes, 88(1), 411-429.
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