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

100%
Kaczmarek A., Przybyszewski K., Rutkowska D., Sosnowska H.
Economics and Business Review
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2018
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vol. 4(18)
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issue 2
64-79
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.
2
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Out of sight – out of mind? Information acquisition patterns in risky choice framing

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Schulte-Mecklenbeck M., Kühberger A.
Polish Psychological Bulletin
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2014
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vol. 45
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issue 1
21-28
EN
We investigate whether risky choice framing, i.e., the preference of a sure over an equivalent risky option when choosing among gains, and the reverse when choosing among losses, depends on redundancy and density of information available in a task. Redundancy, the saliency of missing information, and density, the description of options in one or multiple chunks, was manipulated in a matrix setup presented in MouselabWeb. On the choice level we found a framing effect only in setups with non-redundant information. On the process level outcomes attracted more acquisitions than probabilities, irrespective of redundancy. A dissociation between acquisition behavior and choice calls for a critical discussion of the limits of process-tracing measures for understanding and predicting choices in decision making tasks.
3
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Hypothetical bias and framing effect in the valuation of private consumer goods

100%
Brzozowicz M.
Central European Economic Journal
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2018
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vol. 5
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issue 52
EN
In a laboratory experiment, I examined two behavioural effects: hypothetical bias and the framing effect. I elicited willingness to pay (WTP) for a cosmetic product, and manipulated framing conditions (positive vs. negative attribute framing) and incentives to reveal the actual valuation (hypothetical vs. real). I demonstrated that hypothetical bias has a significant impact on WTP values; however, the framing effect has no effect on the valuation of the product. Similarly, I found no interaction between the two effects. This observation contributes to claims that hypothetical research methods lead to equally reliable data as those based on consequential choices.
4
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RESULTS OF MISTAKEN TIME PERIOD IN ANALYSIS IN THE CASE OF FRAMING EFFECT FOR SOME CAPITAL MARKETS’ MODELS

88%
Majewska A., Majewski S.
Metody Ilościowe w Badaniach Ekonomicznych
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2009
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vol. 10
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issue 1
163-175
EN
Economic activity around the world should be supported by analysis determined by the different level of difficulty of applied quantitative methods. The article presents the importance selecting a proper time window for analysis for correct diagnosing of situations based on information taken from TNI, BSOPM, Markowitz’s, and Sharpe’s models. TNI shows the role of expansiveness of media relations regarding the SE. The correct specification of the time window causes the proper valuation of price and risk. Behavioural finance flaming effect is a field of discussion in his research.
5
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Retirement decisions

51%
Ruzik-Sierdzińska A.
Ubezpieczenia Społeczne. Teoria i praktyka
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2019
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issue 3/2019
67-78
EN
The objective of the paper is to analyse how various phenomena examined by behavioural economics can explain the labour supply of people at near-retirement age. The early retirement of some may be explained by the assumption of a hyperbolic discounting of current and future incomes, while social norms for labour force participation in old age diversify the effective age of labour market exit between countries. In terms of policies encouraging people to end their economic activity later, the framing effect on retirement decisions is important.
PL
Celem artykułu jest przeanalizowanie, jak różne zjawiska badane przez ekonomię behawioralną mogą tłumaczyć podaż pracy osób w wieku okołoemerytalnym. Założenie o hiperbolicznym dyskontowaniu obecnych i przyszłych dochodów może wyjaśniać dość szybkie przechodzenie niektórych osób na emeryturę, zaś normy społeczne dotyczące aktywności zawodowej w starszym wieku różnicują między krajami efektywny wiek odejścia z rynku pracy. Z punktu widzenia polityki zachęcającej ludzi do coraz późniejszego kończenia aktywności zawodowej istotny jest wpływ efektu sformułowania (ang. framig effect) na decyzje emerytalne.
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