Distinguishing self-involving from self-serving choices in framing effects

Area of Science:

• Decision-making
• Behavioral economics
• Cognitive psychology

Background:

• Quasi-cyclical preferences can arise from complex decision-making processes.
• Existing accounts may not fully capture the nuances of these preference patterns.

Purpose of the Study:

• To distinguish between two specific types of cases generating quasi-cyclical preferences: self-involving and self-serving choices.
• To highlight the importance of this distinction for understanding rational choice theory.

Main Methods:

• Conceptual analysis of decision-making scenarios.
• Examination of agent perspectives (first-person vs. third-person).
• Analysis of frame-based reasoning and its implications for rationality.

Main Results:

• Identified 'self-involving' choices: agent oscillates between conflicting first- and third-person perspectives on life-changing decisions.
• Identified 'self-serving' choices: frame-based reasoning is first-personally rational but third-personally irrational.

Conclusions:

• The distinction between self-involving and self-serving choices offers a more nuanced understanding of quasi-cyclical preferences.
• This distinction warrants further attention within existing theoretical frameworks, such as Bermúdez's account.