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On the Risky Choice Framing Effect and the Role of Hedonic Versus Utilitarian Mindsets Seminar

Time:
16:00 - 17:00
Date:
21 November 2013
Venue:
Building 44, Room 3095 University of Southampton Highfield Campus Southampton SO17 1BJ

For more information regarding this seminar, please telephone Allyson Marchi on 02380 599645 or email A.Marchi@soton.ac.uk .

Event details

Four experiments investigated the impact of hedonic versus utilitarian mindsets on framing effects. Based on the assumption that hedonic mindsets sensitize people more to decision frames than utilitarian mindsets, it was predicted that framing effects would be more pronounced when participants adopted a hedonic mindset than when they adopted a utilitarian mindset.

 Four experiments investigated the impact of hedonic versus utilitarian mindsets on framing effects. Based on the assumption that hedonic mindsets sensitize people more to decision frames than utilitarian mindsets, it was predicted that framing effects would be more pronounced when participants adopted a hedonic mindset than when they adopted a utilitarian mindset.

Consistently, mindsets moderated the impact of decision frames. When participants adopted a hedonic mindset, they preferred the secure over the risky alternative when the scenario was framed in terms of gains, but they preferred the risky over the secure alternative when the scenario was framed in terms of losses. When participants adopted a utilitarian mindset, the framing effect was reduced. Analyses of participants' thoughts confirmed the mediating role of these mindsets. These findings shed light on underlying processes of framing effects and on rationality in decision making as a function of hedonic versus utilitarian mindsets.

Speaker information

Dr Eric Igou, University of Limerick. Eric Igou joined the University of Limerick in 2008 to become part of a newly formed and growing Department of Psychology. Here he developed 2 postgraduate courses and served as HoD (2010-2013). He received his PhD from University of Heidelberg in 2000. Since then Ihe has worked at the University of Mannheim, the New School University (fellowship), New York University (fellowship), Tilburg University (tenured), and now the University of Limerick.

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