Book chapter
Behavioral and neuroscience methods for studying neuroeconomic processes: What we can learn from framing effects
The neuroscience of risky decision making, pp.43-69
Bronfenbrenner series on the ecology of human development, American Psychological Association
2014
DOI: 10.1037/14322-003
Abstract
In this chapter, we illustrate how framing effects can be used to examine the complementary contributions of behavioral and neuroscience research in understanding neuroeconomic decision processes, particularly those involving risk. Framing effects are ubiquitous in everyday life, yet they can be studied under controlled conditions with simple manipulations (e.g., describing a medical treatment as either having a 50% success rate or a 50% failure rate). Objectively equivalent information presented in different frames has been shown to lead to substantially different preference ratings that are accompanied by different brain activation patterns. An array of multidisciplinary tools across a growing body of literature shows that framing effects play a fundamental role in decision making. In this chapter, we explore this recent research using different framing paradigms (attribute and risky-choice framing) in conjunction with recently developed neuroeconomic risky-choice tasks such as the Iowa Gambling Task and the "cups" task, which differentially tap into affective and cognitive systems. Studies include brain scanning, eye tracking, circadian rhythms, and life-span developmental techniques. We discuss results in terms of current dual-process theories of decision making. Evidence is converging to allow us to better answer the basic question of "Why (and when) do you and I make different decisions?" (PsycINFO Database Record (c) 2014 APA, all rights reserved)
Details
- Title: Subtitle
- Behavioral and neuroscience methods for studying neuroeconomic processes: What we can learn from framing effects
- Creators
- Irwin P LevinTodd McElroyGary J GaethWilliam HedgcockNatalie L Denburg
- Contributors
- Valerie F Reyna (Editor)Vivian Zayas (Editor)
- Resource Type
- Book chapter
- Publication Details
- The neuroscience of risky decision making, pp.43-69
- Series
- Bronfenbrenner series on the ecology of human development
- DOI
- 10.1037/14322-003
- Publisher
- American Psychological Association; US; Washington; DC
- Language
- English
- Date published
- 2014
- Academic Unit
- Neurology; Marketing; Psychological and Brain Sciences; Iowa Neuroscience Institute
- Record Identifier
- 9984020996102771
Metrics
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