Groups as imperfection decision makers - Cheng, P.-Y., & Chiou, W.-B. (2008). Framing effects in group investment decision making
3 important questions on Groups as imperfection decision makers - Cheng, P.-Y., & Chiou, W.-B. (2008). Framing effects in group investment decision making
Study Cheng & Chiou (2008).
social relevance: framing effects and group polarziation can influence the group decision processes; insight in this matter is needed.
RQ: to what extent do group polarization effects that often occurs in group decisions making strengthen framing effects?
Hypothesis:
gain situation: a preference to option A in comparison to group members' individual decisions.
loss situation: a preference to option B in comparison to group members'individual decisions.
What are the results? Cheng & Chiou (2008).
a risky shift occured in the loss situation
group polarization occured in both gain and los situation.
Limitations, strenghts and weaknesses of this study Cheng & Chiou (2008).
strenghts:
group polarzisation study, replicable
weaknesses
seven days memory effect? is this enough to forgot the pretest?
measuring scale? the scale is not specified at the beginning of the experiment.
operationalization and manipulation framing. they know that the did not loss their investment in the gain situation. this situation can not be framed.
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