Framing, the prospect theory and the discrimination model 1987-1988

Study aims at: 1. determination of the predictive validity of the discrimination model in rational choice theory/ 2. Comparison of predictive power of the discrimination model versus the prospect theory of cognitive psychology using different assumptions Groups of students were invited to read a story after which they had to decide on a certain topic. By varying the information in the story the answers should be given according the hypothesis. the situations described in the stories pertain to: selling a rare book/ getting a discount/ going through a concert through the rain/ buying an eiderdown