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Updated: Aug 24, 2025

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Frames, trade-offs, and perspectives
1Coller School of Management, Tel Aviv University, Tel Aviv 6997801, Israel oriw@tauex.tau.ac.il; https://english.tau.ac.il/profile/oriw.
Abstract:
Bermúdez argues for rational framing effects based on normatively appropriate quasi-cyclical preferences. We suggest that this argument conflates preferences over specific outcomes with preferences over outcome aspects. Instead of implying quasi-cyclical preferences, framing affects decisions through standard economic trade-offs. Nonetheless, we demonstrate that framing can affect behavior through altering perceptions of particular outcome aspects when framing effects are not decomposable.
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