Reyna & Ellis Risk Task

Reyna, V. F., & Ellis, S. C. (1994). Fuzzy-trace theory and framing effects in children's risky decision making. Psychological Science, 5(5), 275-279. doi: 10.1111/j.1467-9280.1994.tb00625.x

	Table of Contents
	Description
	History of Use
	References

Description:

Purpose		The Risk Task was designed to assess risk preferences through choices made in a game.
Questions		Participants play 2 blocks, 1 block of 9 gain-frame problems and 1 block of 9 loss-frame problems. For each problem, Ps choose between sure thing and a gamble. Sure thing is represented by a transparent bag with the number of prizes inside clearly visible. If Ps choose the sure thing, they receive the prize(s) indicated. Gamble is represented by a wooden spinner with the probabilities clearly shown by different colored areas. Each area had a transparent bag with the number of prizes inside clearly visible. If Ps choose the gamble, they must spin to see which of the 2 outcomes represented on the spinner they will get. Gain-frame problems Ps start out with zero prizes and then choose in order to gain prizes. Loss-frame problems Ps start out with endowment of prizes and then choose in order to (not) lose prizes. Aspects of the game that can be manipulated. Levels of risk: 1/3, 2/3, or 3/4 chance of winning nothing (gain-frame) / losing something (loss-frame) Levels of outcome: EV of 1 prize, 4 prizes, or 30 prizes
Sub-scales		2 sub-scales: Choices for gain-frame problems Choices for loss-frame prbolems
Domain
Psychometrics
Sample items		Ps choose between Sure thing Gamble

References:

Scale:

Reyna, V. F., & Ellis, S. C. (1994). Fuzzy-trace theory and framing effects in children's risky decision making. Psychological Science, 5(5), 275-279. doi: 10.1111/j.1467-9280.1994.tb00625.x

Uses:

Schlottmann, A., & Tring, J. (2005). How children reason about gains and losses: Framing effects in judgement and choice. Swiss Journal of Psychology, 64(3), 153-171. doi: 10.1024/1421-0185.64.3.153

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