| Framing effect has been the new focus of research for risk decision theory and practical applications just after it was proposed. In order to better predict people’s risk preferences in real life, many researchers are eager to start from all kinds of test scenarios to validate the existence of framing effects, or to research on the factors those influence framing effect.But essentially no doubt is thrown upon the syntax expression of framing effect. The positive/negative sentiment could be raised up by the expression of "life" and "death" itself. And likely it is the raise of the sentiment that grants the different meaning for the two kinds of expression, which leads to the framing effect. So the primary problem for framing effect is to clarify the effects of the different approaches to express.Totally383subjects composed of graduated students as well as officers, are taken into account of the framing effect experiment. The experiment is designed as three factors, one of which is risky choice frame (positive frame or negative frame). Another factor is the presentation approach (textual expression, graphical expression). The last factor is the contexts of the task (life issue, money issue and personal goods issue). The task context is within subjects while the risky choice framing and presentation approach are between subjects, which aim to prove that the essence of framing effect is the sentiment. With the same amount of sentiment and different expression approaches, there’s remarkable framing effect for risk preference.Totally196subjects composed of graduated students as well as officers, are taken into account of the framing effect experiment. The experiment is designed as three factors, one of which is risky choice frame (positive frame or negative frame). Another factor is the affective involvement (high affective involvement, low affective involvement). The last factor is the contexts of the task (life issue, money issue and personal goods issue). The task context is within subjects while the risky choice framing and affective involvement are between subjects, which aim to examine the influence of affective involvement on risky choice framing effect.Totally363subjects composed of graduated students as well as officers, are taken into account of the framing effect experiment. The experiment is designed as three factors, one of which is risky choice frame (positive frame or negative frame). Another factor is the subjective reference point (high subjective reference point, low subjective reference point). The last factor is the contexts of the task (life issue, public goods issue). The task context is within subjects while the risky choice framing and subjective reference point are between subjects, which aim to examine the influence of subjective reference point on risky choice framing effect.Below are the conclusions for the experiment:1. Different framing effects of risk decision-making are demonstrated for individuals under different task contexts, of which unidirectional framing effect is shown for life issue. Individuals tend to risk seeking no matter under positive or negative frame, only the trend is more prominent for negative frame. There’s no framing effect for money issue, which means individuals tend to risk seeking for both positive and negative frame scenarios. But for personal goods issue there’s classical bidirectional framing effects, which shows that individuals tend to risk aversion for positive frame and tend to risk seeking for negative frame.2. Risk preference is not affected by the approaches of the statements, no significant difference is found when comparing the framing effects for individual risk preference with textual expression or graphical expression.3. The influence of the affective involvement to the risky choice framing effect differs with different task contexts. And there’s a significant interaction between the risky choice frame and the affective involvement when considering the personal goods issue. The more the emotion involves, the more prominent of the framing effect. But there’s not much influence of the affective involvement to the risky choice frame for the life and money issues.4. The higher the subjective reference point, the more trend to risk seeking for individuals. The lower the subjective reference point, the more trend to risk aversion for individuals.5. The risky choice frame is influenced by the individual subjective reference point. Classical framing effect is shown for life issue with low subjective reference point, while there’s unidirectional framing effect with high subjective reference point. But for public goods issue, there’s unidirectional framing effect with low subjective reference point and classical framing effect with high subjective reference point. And also from the two task contexts, more significant framing effect can be found with high subjective reference point. |
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