Minimal Frames and Transparent Frames for Risk, Time, and Uncertainty
正式定义了风险和时间的透明框架,证明了其唯一性并给出构建算法,通过实验验证了框架对风险选择的影响,并扩展到不确定性下的选择,预测了模糊厌恶的框架依赖性。
Behavior differs between transparent and nontransparent presentations of decisions, but “transparent presentation” has not been precisely defined. We formally define “transparent frames” for risk and time, establish their uniqueness, provide algorithms for constructing them, and compare them with “standard” presentation formats. A logic emerges for predicting systematic shifts in choice under risk and over time, and how violations of rational choice theory will depend on frames. An experiment verifies most of those predictions in choice under risk. We extend results to choice under uncertainty and also predict frame dependence of ambiguity aversion, a result supported by recent experimental evidence. This paper was accepted by Elke Weber, judgment and decision making.