important factors influencing perception of information. In this paper framing effects are analysed by means of an experiment …, the need for information and decision process even though the effect is small. Overall, a negative frame results in a …

prospects in a laboratory experiment. Under low stakes, we find the typical risk seeking behavior for small probabilities …

a new descriptive theory of human decision making in the real world, coined Heuristics and Biases. The 1979 Econometrica … psychophysics, in which deviations from average behavior are termed (statistical) errors; and the latter's work on decision theory …

When a risky decision involves both skill and chance, success or failure is a signal of the decision maker's skill …. Prospect theory's four-fold pattern of probability weighting predicts that decision makers favor long-shots, avoid near sure … any gamble, even a friendly bet with little or no money at stake, reflects poorly on the decision maker's skill. Finally …

genders might interpret the social norms in group decision-making differently. …

-specific probability weights, estimated from investment decisions in a laboratory experiment, and personal characteristics. We find … who do not use a lottery’s expected value as a decision criterion. None of the factors studied impact subjects’ valuations …

portfolio is a mixed lottery. Not only do we find no effect of the frame on the investment decision, we also find no evidence of …

This review considers two explanations for behavioral decision-making in reference to the certainty and framing effects …

distinguished: heuristics and biases; choices, values and frames; and social factors. We then describe the main biases within each …