From “Wording Effect” to Interpretation Theory: Edwards, Tversky and Davidson

The “wording effect”, first mentioned by Ward Edwards, could be considered as one of the trickiest issues that challenges the expected utility theory. If for Edwards, this effect merely corresponds to a phrasing issue, other theorists, especially Amos Tversky and Donald Davidson, pointed out a probl...

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Bibliographic Details
Published inOEconomia Vol. 6; no. 6-1; pp. 33 - 55
Main Author Harnay, Pôl-Vincent
Format Journal Article
LanguageEnglish
Published Association Œconomia 01.03.2016
Subjects
Davidson (Donald)
decision theory
Edwards (Ward)
interpretation theory
Tversky (Amos)
wording effect
Davidson (Donald)
Tversky (Amos)
wording effect
théorie de la décision
decision theory
Edwards (Ward)
effet de formulation
interpretation theory
théorie de l’interprétation
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Summary:The “wording effect”, first mentioned by Ward Edwards, could be considered as one of the trickiest issues that challenges the expected utility theory. If for Edwards, this effect merely corresponds to a phrasing issue, other theorists, especially Amos Tversky and Donald Davidson, pointed out a problem of interpretation that undermines decision theory. Tversky and Davidson offered two opposite answers to this problem, characterized by a singular conception of relations between economics and psychology.
ISSN:2113-5207
2269-8450
DOI:10.4000/oeconomia.2264