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Become Kineo Reference Point
Decision frames which produce gains are termed positive frames, and decision frames which produce losses are termed negative frames. In the next section, we hypothesize several factors which affect the formation of the initial reference point and the final reference point. Previous studies have shown that when choosing one of two logically equivalent frames (e.g., “half full” or “half empty”), people tend to choose based on a reference point. For example, when the amount of water in a glass with 500 ml capacity was originally 0 ml , and then increased to 250 ml, people tend to express the amount of water in the glass as “half full” (or “half empty”).
Many studies have shown that reference points play an important role in various psychological processes of judgment and decision making (e.g., Kahneman and Tversky, 1979; Tversky and Kahneman, 1992; Heath et al., 1999; Allen et al., 2017). Given the absence of hypothesized effects for H2, H3, and H4, an exploratory analysis was performed on the data to determine what, if anything, might be affecting the initial reference point. A model containing a quadratic term for self-esteem was estimated, both with and without the price and risk attitude treatment variables.
Merger waves occur when high returns on the market and likely targets make it easier for bidders to offer a peak price. Parties thus appear to use recent peaks as reference points or anchors to simplify the complex tasks of valuation and negotiation. One of the principal medial reference point and moving the table the problems at simulation had been the definition of required lateral distance. The subjects were adult males enrolled in continuing education courses at a Michigan community college.
Finally, we shall point out an issue about the effect of primes on frame choice. In the present study, frame choice task was carried out just after the priming task was conducted. That is, when there is a time lag between the priming and frame choice tasks, the effect of the prime may disappear. In future research, it will be necessary to examine how long the effect of the prime-based reference point on frame choice persists. Taken as a whole, the findings of Experiment 3B were highly analogous to those of Experiment 2.
With some machines two workpiece reference points can be defined by means of a stop by software. Thus only one program can operate several identical small workpieces, being cut out of a large panel. The workpiece reference point is simply modified via software, e.g. for the processing of irregular workpieces.
In the present study, we examined whether participants explicitly made a frame choice based on the reference point. We conducted four behavioral experiments relating to frame choice tasks. Specifically, participants were presented with a story-based or prime-based reference point and then made a frame choice.