Prospect Theory in Times of a Pandemic

The Effects of Gain versus Loss Framing on Risky Choices and Emotional Responses during the 2020 Coronavirus Outbreak – Evidence from the US and the Netherlands

Datos Bibliográficos

ID12749024
AutoresMichael Hameleers (0000-0002-8038-5005, University of Amsterdam, autor de correspondencia)
Año2021
Volumen24
Número4
Páginas479-499
Fecha de publicación2021-01-10
Open AccessSí
TipoARTICLE
RevistaMass Communication & Society (JOURNAL)
Identificadores de la revistaISSN: 1520-5436 • E-ISSN: 1532-7825
EditorialTaylor & Francis (PUBLISHER • GB)
DOI10.1080/15205436.2020.1870144
OpenAlexW3120023787
IdiomaEN
Citas recibidas22
Referencias citadas36

During the 2020 coronavirus pandemic, governments across the globe relied heavily on the legacy media, not only to inform citizens about fast-paced developments in the midst of a crisis, but also to stimulate compliance with strict interventions. Prospect theory postulates that gain versus loss framing may affect preferences for different interventions. In a conceptual replication of Tversky and Kahneman’s seminal prospect theory, findings from surveys in the US and the Netherlands (N = 1,121) demonstrate that gain frames of the coronavirus promote support for risk-aversive interventions, whereas loss frames result in relatively more support for risk-seeking alternatives. Loss frames elicit stronger negative emotions, such as frustration and powerlessness. The experience of powerlessness, in turn, mediates the effects of loss versus gain frames on support for stricter interventions. Together, these findings indicate that framing the pandemic in terms of gains may be most effective in promoting support for risk-aversive treatments of the pandemic

2019-20 coronavirus outbreak · Coronavirus · Coronavirus disease 2019 (COVID-19 · Disease · Economics · Framing (construction · Geography · Infectious disease (medical specialty · Microeconomics · Outbreak · Pandemic · Prospect theory · Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2 · Behavioral Health and Interventions · Decision-Making and Behavioral Economics · Medicine · Psychological Well-being and Life Satisfaction · Psychology · Social Psychology · Virology

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