The received view of framing

Area of Science:

• Decision Sciences
• Cognitive Psychology
• Behavioral Economics

Background:

• The concept of framing in decision-making has diverse interpretations.
• Existing principles, like Bermúdez's extensionality principle, offer a constrained view of framing effects.

Purpose of the Study:

• To propose a more open-minded interpretation of framing effects.
• To differentiate between all-things-considered preferences and preferences that set aside certain considerations.
• To accommodate decision principles for scenarios lacking complete preference rankings.

Main Methods:

• Conceptual analysis of framing effects.
• Distinction between different types of preferences (all-things-considered vs. partial).
• Exploration of decision principles for incomplete preference structures.

Main Results:

• A novel interpretation of framing effects is presented, expanding beyond the extensionality principle.
• The interpretation accommodates nuanced preferences and incomplete preference rankings.
• This framework allows for a broader range of decision-making scenarios to be analyzed.

Conclusions:

• The proposed interpretation offers a more comprehensive understanding of framing effects in decision-making.
• This approach enhances the analysis of choices influenced by how options are presented.
• It provides a foundation for further research into bounded rationality and preference construction.