Lecture 4: Frames, choices and human rationality

Question 1

What do you need for rationality

Answer 1

Sensitivity to relevant information and consistency

Question 2

Describe the frames in Tversky’s and Kahneman (1981)

Answer 2

When framed with survival, people chose the certain option, when framed with mortality frame people chose the uncertain option

Question 3

Describe Levin and Gaeth (1988) study about the frames

Answer 3

Participants gave different responses to the beef when it was labelled 75% lean compared to 25% fat.

Question 4

What is the effect of a reference point and which study shows this?

Answer 4

Mckenzie and Nelson (2003) - when seeing a full glass (4oz) then seeing it at 2oz, people say half empty, but if it were empty then 2oz, then participants said it was half full.

Question 5

What are conversational implicatures?

Answer 5

things implied by utterances, not by what is explicitly said - Listeners make inferences about the broader context and meaning of what people say.

Question 6

Choosing a frame:

Answer 6

Speakers do not randomly chose one frame over another logically equivalent one, they chose different frames depending on the speakers reference point - Speakers will tend to choose the frame that refers to the attribute that has increased from the reference point to the current situation