More Than Two Choices: The Influence of Context on the Framing Effect

The framing effect demonstrates that two options with different risk levels affect people’s risk preferences, even if both options are logically equivalent. However, in reality we are almost always confronted with more than two choices, rather than a single manipulated message. In this paper, we simultaneously manipulate the framing effect and the context effect, including the attraction effect and the compromise effect, to examine the influence...