Original source: SimoleonSense.com .
Abstract (via Todd McElroy & David L. Dickinson)
Research investigating risk preference has pointed towards motivation and ability as important factors for determining the strength and likelihood of the framing effect. In the current study we explored the influence of individual differences in motivation and ability through circadian rhythm. We predicted that during circadian off-times participants would exhibit stronger framing effects whereas framing effects would be relatively weaker during on-times. Six-hundred and eighty five individuals took part in the study; the findings supported our hypothesis, revealing a diurnal pattern of risk responding that varies across the 24-hour circadian cycle.
The findings from our study provide support for the overall robustness of framing effects across the 24-hour day and also reveal a diurnal pattern of risk responding that depicts a predictable pattern for strength in framing effects across the 24-hour cycle. Our predictions were based in the dual-process view in social psychology (e.g., Chaiken, 1987; Petty & Cacioppo, 1986), suggesting that when motivation and ability are high people process with more effortful processing whereas when motivation and ability are low, people process with less effortful processing.
Consistent with prior research on circadian rhythms, we predicted that during on-times motivation and ability would be heightened, leading individuals to process the decision task with more effortful processing whereas during off-times motivation and ability should be lessened, leading to less effortful processing.
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