APS

29th APS Annual Convention · 2017

On Balance: Broadening the Frame Improves Decision Accuracy

Boston, MA · May 2017

Poster Session · Cognitive

  • Raegan Tennant
    The University of Chicago
  • Richard Thaler
    The University of Chicago

Abstract

We conducted eight experimental studies to empirically test the hypothesis that broaden-the-frame is better than just-guess as a decision-making procedure. On average, broadening the decision frame improved decision accuracy in all domains. Our findings have meaningful implications for practitioners, though a drawback may limit the application of this prescriptive procedure.

Judgment and Decision Making

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