The impact of mathematical competences and cognitive effort on the appearance of the framing effect

• Languages of publication: EN

Abstracts

EN

The aim of this paper is to check whether mathematical competences influence some manifestations of bounded rationality. A special example of bounded rationality called “framing effect” is dealt with to analyze empirically the thesis that mathematical competences and cognitive effort may reduce the framing effect. Two kinds of cognitive effort: probabilistic and deductive are analysed. Experiments were conducted using samples of Polish students, both mathematically and business oriented. As an example of a framing situation an example called “Asian disease”, (the first analyzed and the most popular example of the framing effect), is considered. The thesis that a mathematical background may diminish the occurrence of the framing effect was partly confirmed.

Keywords

EN

bounded rationality; framing effect; experiment

• Publisher: Uniwersytet Ekonomiczny w Poznaniu
• Journal: Economics and Business Review
• Year: 2018
• Volume: 4(18)
• Issue: 2
• Pages: 64-79

Dates

published

2018-05-25

Contributors

original work author

Kaczmarek Aleksander

• Copernicus Science Center, Warsaw, Poland.

original work author

Przybyszewski Krzysztof

• Kozminski University, Center for Economic Psychology and Decision Sciences, Warsaw, Poland.

original work author

Rutkowska Dorota

• Warsaw University, Faculty of Psychology, Department of Cognitive Psychology, Warsaw, Poland.

original work author

Sosnowska Honorata

• Warsaw School of Economics, Collegium of Economic Analysis, Department of Mathematics and Mathematical Economics, Warsaw, Poland

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Identifiers

DOI

10.18559/ebr.2018.2.4