• Title/Summary/Keyword: probabilistic framing effect

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The Exploratory Study for the Effect of Good and Bad Luck on Risky Decision: Perspective of Probabilistic Framing Effect (행운과 불운이 모험적 의사결정에 미치는 효과에 대한 탐색적 연구: 확률적 틀 효과의 관점에서)

  • Lee, Byung-Kwan;Lee, Guk-Hee
    • Korean Journal of Cognitive Science
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    • v.26 no.3
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    • pp.279-300
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    • 2015
  • Present research was carried out on the level of exploration to verify that good luck increases probabilistic framing effect but bad luck decrease the effect. And we organized an experiment that designed experience of luck (good luck vs. bad luck vs. control) ${\times}$ probabilistic frame (high vs. low) and observed whether people response based on probabilistic frame or not. As a result, we observed the two-way interaction where experience of good luck increased probabilistic framing effect, while experience of bad luck decreased the effect (Figure 1). We expect to see more studies of contextual framing effect besides probabilistic frame (e.g., positive vs. negative; loss related to context vs. loss irrelevant to context).

How to Increase the Usability of a Subway Commuter Pass Using Nested Logit Model (Nested logit model을 이용한 정기권 이용범위 확대에 관한 연구)

  • Jung, Hun Young;Shin, Jong Jin;Ko, Sang Seon
    • Journal of Korean Society of Transportation
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    • v.32 no.4
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    • pp.389-400
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    • 2014
  • This study finds a way to increase the usability of a subway commuter pass. Usability of the commuter pass on a probabilistic statistical model is calculated when the pass is allowed to used in a different mode(bus). A sunk cost of commuter pass is used to reduce the vehicle travels from public transit. 324 people aged 25 to 35 were surveyed and utilized to build a Nested Logit Model on STRADA 3.5 platform. Main results are as follows. First, commuter passes were issued in various forms. Second, the model turns out to be statistically significant in four explanatory variables (discount rate, inter-usablity between modes, forms of payment and periods). Lastly, the more valid on different modes, the more increased of the rail commuter pass.