Framing the Problem and Making Decisions - the Facts Are Not Enough

Results of an experiment in which a sample of experienced engineers, scientists, and managers-people who would be expected to be objective decision-makers and who report themselves to be rational decision makers-are influenced by very subtle informational cues are presented. These subtle cues did not alter the object facts in research and development financial allocation decisions, but they did apparently alter the decision-maker's reference point. The cues also altered the degree of risk perceived in the decision scenario. As a result, the decision-makers exposed to different frames made different decisions and reported perceiving different levels of risk in the decision episode