Experimental Analysis of Framing Effects via Observation of Decision Making Proc...
Experimental Analysis of Framing Effects via Observation of Decision Making Processes to Improve the Real World Applicability of Decision Research in Economics
Fellowship objective is to explain influences of descriptive context on individual decisions, i.e. framing effects, by observing processes of making-sense (of representation/interpretation/rationalization). Experimental Economics...
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Información proyecto FRAMING_EFFECTS
Duración del proyecto: 30 meses
Fecha Inicio: 2015-03-23
Fecha Fin: 2017-09-30
Fecha límite de participación
Sin fecha límite de participación.
Descripción del proyecto
Fellowship objective is to explain influences of descriptive context on individual decisions, i.e. framing effects, by observing processes of making-sense (of representation/interpretation/rationalization). Experimental Economics ignores effects of framing on this black-box of decision-making processes, and instead theorizes framing by observing only choices & using fixed preference structures. This not only limits our understanding of these effects but weakens real-world applicability of experimental results & leads to inefficient use of public funds; e.g., it is well-established that descriptions used in policy tools, e.g. contingent valuation (CV) & nudging, significantly affect results, yet it is unknown why or how. To unpack this box, fellowship at U. of Nottingham’s Centre for Decision Research & Experimental Economics (CeDEx) will combine Dr.Isler’s background in methodology research with training/research on framing to develop 2 new experiment designs. Secondment at Leeds U. Centre for Decision Research will enable training on Process Tracing Methods (PTMs) & Mouselab software to provide capacity for process observations. Using PTMs/Mouselab in experiments at CeDEx, 1st design will isolate framing effects that choice/preference-based conventional theories cannot explain; 2nd design will analyse these effects in CV-like public good setting to develop probabilistic/structural model to forecast & PTM-based nonconventional theory to explain the effects. To allow sector/policy applications of lab results (e.g., to CV), designs will be used in field experiments at health/fundraising SME secondments, where training on patient/donor interaction & gender/ethics issues will prepare proper implementation. Fellowship’s training-through-research will thus launch a career in PTM-based framing research leading to innovations in Horizon 2020 health/efficiency/gender priorities that save public/private funds via appropriate reframing of customer relations & policy tools.