Framing Effect Under Different Managerial Overconfidence On Risk Decision

Risk decision-making in people’s daily lives is ubiquitous small selection of investment solutions to large enterprises or state development policies is a kind of fuzzy assessment under situations of risk in order to make decision-making process.The traditional theory is that risk decisions are individual decisions through rational thinking and calculations.However,more and more studies show that risk decisions are not always purely rational behavior,assume that individuals will be rational thinking and calculation is only a logical inference which is not realistic risk decisions.Such assumptions about rational people ignoring the important role of subjective factors in the individual risk decision played,where overconfidence is the subjective factor in a very important part.Studies have shown that people tend to overestimate their actual capacity and forecast level,too much faith in their own judgment and the accuracy of the information obtained.Overconfidence is the most common risk decision-making,the greatest threat to cognitive biases.The framing effect from the latest discovery,is the risk decision hot issues.Framing effect reveals an individual phenomenon in the decision-making process due to the impact of different way of expression arising preference reversal.This paper analyzes the recent overconfidence,domestic and foreign periodicals framing effects and risk decision-making,combined with different management levels,instead of using a different method of indirect indicators and other studies,this study by direct measurement of overconfidence and risk decisions directly observations by Tencent questionnaire system from the media platform release in a number of test connections,access to the north and inland cities in different cities of GuangzhouShenzhen and other data subjects,attempts to explore the impact of overconfidence and framing effects of risk decisions.Through data analysis we draw the following conclusions:1.Gender on overconfidence significant differences,women were more overconfident than men;2.Management level of overconfidence significant difference,managers are overconfidence than ordinary employees;3.Framing effect significantly different than the situation at the expense of individual benefits under more risk situation chase;4.The effect of gender on the framework of a significant difference in loss situations,more women than men chasing risk;5.Management level differences framing effect significant benefit in the situation,the manager is more than the risk of the general staff chase;6.No significant correlation overconfidence and risk decisions.