Strategic framing to influence clients’ risky decisions
This paper develops a model of persuasive demand inducement in the expert–client relationship. The expert frames the decision on whether or not to buy expert services faced by a client with prospect-theoretic preferences, by making the client see this decision from the perspective of a particular re...
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| Veröffentlicht in: | Theory and decision 2019-05, Vol.86 (3-4), p.437-462 |
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| container_title | Theory and decision |
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| creator | De Jaegher, Kris |
| description | This paper develops a model of persuasive demand inducement in the expert–client relationship. The expert frames the decision on whether or not to buy expert services faced by a client with prospect-theoretic preferences, by making the client see this decision from the perspective of a particular reference point. When inducing a client to buy risky curative services, the expert should set a high reference point, and frame all outcomes as losses. When instead inducing a client to buy safe preventive services, as long as the client’s loss aversion is sufficiently high, the expert should set an intermediate reference point, framing high outcomes as gains and low outcomes as losses. |
| doi_str_mv | 10.1007/s11238-019-09691-x |
| format | Article |
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| identifier | ISSN: 0040-5833 |
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| issn | 0040-5833 1573-7187 |
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| subjects | Behavioral/Experimental Economics Client relationships Decision theory Demand Economic Theory/Quantitative Economics/Mathematical Methods Economics Economics and Finance Finance Frame analysis Game Theory Insurance Management Operations Research/Decision Theory Prevention Risk Social and Behav. Sciences Statistics for Business |
| title | Strategic framing to influence clients’ risky decisions |
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