Self-framing of risky choice

This research examines how decision-makers themselves spontaneously frame choice outcomes and the effects of the self-framing on risky choice. Pie-chart-displays were used to present the expected outcomes of monetary or life-death problems presented in terms of “outcome”, “survival outcome” or “mortality outcome”. Independent judges rated the hedonic tone of the participants’ interpretations of the pie-chart displays. The results revealed that (1) risk aversion was more prevalent when the choice options were self-framed positively, and vice versa. (2) The self-framing was the most positive in the mortality condition, suggesting a motivational function of self-framing. (3) The self-framing became significantly less positive in the monetary domain than in the life domain. (4) More positively framed options were more attractive options