Problem representation, frame preference and risky choice

Two experiments, with 117 university students from the UK and 191 university students from The Netherlands, respectively, tested the hypothesis that preference for a frame (i.e., the way decision problems are formulated) in which the alternatives are described as losses (loss frame) will lead to risk seeking and that preference for gain frames will lead to risk aversion. This relation was examined using standard problems in the domain of human lives and more everyday problems. Results provided weak support for the predicted relation, but in the domain of human lives only. In Exp 2, 2 types of problem presentation were included. A substantial effect of the initial problem presentation was obtained on option preference, irrespective of the frame Ss preferred to describe the problem. Initial problem presentation seems to have an overriding effect on option preference.