Investigating the origin and consequences of endogenous default options in repeated economic choices.
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ABSTRACT:
SUBMITTER: Couto J
PROVIDER: S-EPMC7425902 | biostudies-literature | 2020
REPOSITORIES: biostudies-literature
Publications
Investigating the origin and consequences of endogenous default options in repeated economic choices.
Couto Joaquina J van Maanen Leendert L Lebreton Maël M
PloS one 20200813 8
Classical value-based decision theories state that economic choices are solely based on the value of available options. Experimental evidence suggests, however, that individuals' choices are biased towards default options, prompted by the framing of decisions. Although the effects of default options created by exogenous framing-such as how choice options are displayed-are well-documented, little is known about the potential effects and properties of endogenous framing, that is, originating from ...[more]
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