Balart, PauEzquerra, LaraHernández Arenaz, Íñigo2022-08-182022-08-182022Balart, P.; Ezquerra, L.; Hernandez-Arenaz, I. (2022). Framing effects on risk-taking behavior: evidence from a field experiment in multiple choice tests. Experimental Economics.1386-415710.1007/s10683-022-09748-9https://academica-e.unavarra.es/handle/2454/43816We exploit testing data to gain better understanding on framing effects on decision-making and performance under risk. In a randomized field experiment, we modified the framing of scoring rules for penalized multiple-choice tests. In penalized multiple-choice tests, right answers are typically framed as gains while wrong answers are framed as losses (Mixed-framing). In the Loss-framing proposed, both non-responses and wrong answers are presented in a loss domain. According to our theoretical model, we expect the change in the framing to decrease students' non-response and to increase students' performance. Under the Loss-framing, students' non-response reduces by a 18%-20%. However, it fails to increase students¿ scores. Indeed, our results support the possibility of impaired performance in the Loss-framing.application/pdfengThis article is licensed under a Creative Commons Attribution 4.0 International LicenseFramingProspect theoryLoss-aversionRisk-takingTest takingNon-responseinfo:eu-repo/semantics/article2022-08-18info:eu-repo/semantics/openAccess