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Updated: Aug 4, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Protected Values and Omission Bias
Abstract:
Protected values (PVs) are those that people think should not be traded off. Baron and Spranca (1997) proposed that such values result from rules concerning actions (as opposed to values for outcomes). This proposal implies that PVs should show a particularly large bias against harmful acts that undermine the value in question, as opposed to harmful omissions (omission bias). We found this correlation between PVs and omission bias in 3 experiments, using stimuli of the sort that we used before to demonstrate omission bias. In 2 experiments, we also found a weak tendency for PVs to be associated with lack of concern for the number of acts involved, which is analogous to earlier results showing an association with lack of concern for the quantity of outcomes. Finally, 1 experiment showed that some people are willing to sacrifice values to prevent losses more than they are willing to sacrifice these values for gains. Copyright 1999 Academic Press.
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