Bearing the aforementioned research in mind, we propose three general hypotheses concerning scenario-frame and payoff-type only. First, the framing effect is a cognitive phenomenon and does exist. To replicate previous findings, this will be shown with a greater total percentage of sure-option responses to gain-framed scenarios and a smaller percentage of such responses to loss-framed scenarios. Second, we expect that people will be generally less risky when situations involve large consequences (or a high payoff) and relatively less risky when the consequences are small (involving a low payoff). This will be shown with significantly greater total sure-option responding in high-payoff scenarios than in low-payoff scenarios. Third, we propose that the framing effect will be more pronounced in high-payoff scenarios than in low-payoff scenarios. This will be shown with an interaction effect between scenario-frame and payoff-type, with a larger discrepancy of sure-option responding between gain-framed and loss-framed scenarios in the high-payoff scenarios and a smaller discrepancy in the low-payoff scenarios. All hypotheses will be tested with a forced-choice questionnaire in which subjects will choose one of two decisions (a sure option or a risky option) scenarios involving either a gain-frame or a loss-frame with either a high or a low payoff.