The Framing Effect: Conclusion

We devised our experiment to observe the framing effect under specific conditions. The design of the experiment included scenarios that were either framed as a gain or a loss and also with either a large or a small payoff, and subjects were asked to respond to the scenarios with either a sure-option choice or a risky-option choice. The results show a significantly higher percentage of sure-option responses to gain-framed questions than to loss-framed questions. Subjects also chose significantly more sure-option responses when the scenario had a high payoff as opposed to a low payoff, and an interaction was shown with the difference of sure-option responding between gain-framed and loss-framed scenarios differing across the payoff type.