Hostname: page-component-cd9895bd7-gvvz8 Total loading time: 0 Render date: 2024-12-27T06:28:34.715Z Has data issue: false hasContentIssue false
  • English
  • Français

Explaining bias with bias

Published online by Cambridge University Press:  25 October 2022

Krzysztof Przybyszewski Open the ORCID record for Krzysztof Przybyszewski [Opens in a new window] ,
Dorota Rutkowska Open the ORCID record for Dorota Rutkowska [Opens in a new window]  and
Michał Białek Open the ORCID record for Michał Białek [Opens in a new window]
Krzysztof Przybyszewski
Affiliation:
Department of Economic Psychology, Kozminski University, 03-301 Warsaw, Polandcrispy@kozminski.edu.pl
Dorota Rutkowska
Affiliation:
Faculty of Psychology, Warsaw University, 00-183 Warsaw, Polanddorota.rutkowska@psych.uw.edu.pl
Michał Białek
Affiliation:
Faculty of Historical and Pedagogical Sciences, Institute of Psychology, University of Wroclaw, 50-527 Wrocław, Polandmichal.bialek3@uwr.edu.pl
Get access Rights & Permissions [Opens in a new window]

Abstract

Bermúdez argues that a framing effect is rational, which will be true if one accepts that the biased editing phase is rational. This type of rationality was called procedural by Simon. Despite being procedurally rational in the evaluation phase framing effect stems from biased way we set a reference point against which outcomes are compared.

Type
Open Peer Commentary
Information
Behavioral and Brain Sciences , Volume 45 , 2022 , e237
Check for updates
Copyright
Copyright © The Author(s), 2022. Published by Cambridge University Press

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Abelson, R. P., & Levi, A. (1985). Decision making and decision theory. In Lindzey, G. & Aronson, E. (Eds.), The handbook of social psychology (Vol. 1, 3rd ed., pp. 231–309). Random House.Google Scholar
Dacey, R., & Zielonka, P. (2008). A detailed prospect theory explanation of the disposition effect. Journal of Behavioral Finance, 9, 43–50. https://doi.org/10.1080/15427560801897758CrossRefGoogle Scholar
Igou, E. R., & Bless, H. (2007). On undesirable consequences of thinking: Framing effects as a function of substantive processing. Journal of Behavioral Decision Making, 20(2), 125–142. https://doi.org/10.1002/bdm.543Google Scholar
Kahneman, D., Knetsch, J. L., & Thaler, R. H. (1991). Anomalies: The endowment effect, loss aversion, and status quo bias. Journal of Economic Perspectives, 5(1), 193–206. doi: 10.1257/jep.5.1.193CrossRefGoogle Scholar
Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263–292. https://doi.org/10.2307/1914185CrossRefGoogle Scholar
McElroy, T., & Seta, J. J. (2003). Framing effects: An analytic–holistic perspective. Journal of Experimental Social Psychology, 39(6), 610–617. https://doi.org/10.1016/S0022-1031(03)00036-2Google Scholar
Simon, A. F., Fagley, N. S., & Halleran, J. G. (2004). Decision framing: moderating effects of individual differences and cognitive processing. Journal of Behavioral Decision Making, 17(2), 77–93. http://dx.doi.org/10.1002/(ISSN)1099-0771Google Scholar
Simon, H. (1955). A behavioural model of rational choice. The Quarterly Journal of Economics, 69(1), 99–118. https://doi.org/10.2307/1884852CrossRefGoogle Scholar
Simon, H. (1972). Theories of bounded rationality. In McGuire, C. B. & Radner, R. (Eds.), Decision and organization (pp. 161–176). North-Holland Publishing Company.Google Scholar
Simon, H. (1976). From substantive to procedural rationality. In Latsis, S. J. (Ed.), Method and appraisal in economics (pp. 129–148). Cambridge University Press. https://doi.org/10.1017/CBO9780511572203CrossRefGoogle Scholar
Stanovich, K. E., & West, R. F. (2000). Individual differences in reasoning: Implications for the rationality debate?. Behavioral and Brain Sciences, 23(5), 645–665. http://dx.doi.org/10.1017/S0140525X00003435CrossRefGoogle ScholarPubMed
Stanovich, K. E., West, R. F., & Toplak, M. E. (2011). The complexity of developmental predictions from dual process models. Developmental Review, 31(2-3), 103–118. http://dx.doi.org/10.1016/j.dr.2011.07.003CrossRefGoogle Scholar
Tversky, A., & Kahneman, D. (1974). Judgment under Uncertainty: Heuristics and Biases. Science, 185(4157), 1124–1131. http://dx.doi.org/10.1126/science.185.4157.1124CrossRefGoogle ScholarPubMed