在第一篇文章當中,我們論證了台灣選擇權市場的投資人交易行為符合Kahneman and Tversky (1981) 所提出來的框架效應. 更進一步, 我們發現投資人的專業程度, 交易複雜性, 與交易經驗能降低框架效應的行為偏誤. 在第二篇文章當中, 我們發現台灣選擇權市場投資人並無符合Thaler (1985) 所提出來的心理帳戶效應來編輯利得與損失. 但是對於混合利得與損失當中, 投資人仍有心理帳戶的現象來處理他們的選擇權部位. / In the first essay, we document support for the narrow framing effect proposed by Kahneman and Tversky (1981). Our findings that traders in an options market frame complicated investment decisions into the simpler ones support the narrow framing effect. Traders’ professionalism, sophistication and trading experience are negatively related with the degree of narrow framing, implying that these factors help to reduce investors’ behavioral bias. Our study bridges the gap between the psychological literature and financial literature in terms of the relationship between experience/sophistication and narrow framing. The results of this paper shed light on the decision-making process in an options market. In the second essay, complementary to Lim (2006)’s findings in regards to stocks market, we also claim that in a much more complex derivatives market, traders tend to frame gains and losses asymmetrically by editing or evaluating their outcomes into different accounts. Nevertheless, different from Thaler’s mental accounting theory (1985), we find investors are more susceptible to segregating losses and integrating gains when they liquidate their positions. Our empirical evidence shows that they also have asymmetry in the propensity to liquidate multiple options. The current study sheds a light on how investors perceive, categorize, evaluate and engage their outcomes in financial activities, in addition, under what circumstances investor integrate or separate their investment profits. The fact that investors’ responses to edit their outcomes vary across countries and securities markets highlights the complexity of human behavior and calls for further studies on a broader range of financial markets.

本論文主要從情緒解釋框架效應，由情緒管理理論（Mood management theory）、情緒壓抑效果(Dampening effect)解釋框架效應，並利用問卷驗證兩理論之正確性。情緒管理理論認為:在正向框架下，受試為了保持好心情，選擇能保持好心情的確定選項；在負向框架下，受試為了逃離負向情緒，選擇有機會沒有人損失的風險選項。而情緒壓抑效果則認為:受試會對不確定選項會有一個情緒的壓抑效果，因此在正向框架下，受試對風險選項的正向情緒較低，因此選擇確定選項；負向框架下，受試對風險選項的負向情緒較低，因此選擇風險選項。另外，對於過去文獻中顯現人們對亞洲疾病問題比賭局問題要來的風險追逐的現象，情緒管理理論比情緒壓抑效果更能由情緒的角度提供解釋。情緒管理理論預期受試面對賭局問題比亞洲疾病問題，在正向框架下的正向情緒較高，在負向框架下的負向情緒較低。情緒壓抑效果預期受試在正向框架下，對於確定選項有較高的正向情緒，因此選擇確定選項；面對負向框架，對於不確定選項有較低的負向情緒，因此選擇不確定選項。本文採用問卷的方式，在實驗一與實驗二中，對於上述的理論作檢驗，結果支持情緒管理理論的預測，情緒壓抑效果僅獲得部分支持。本文除了對於過去框架效應的相關文章作一統整外，對於框架效應的發生提供一個情緒解釋基礎，並使用情緒管理理論驗證並支持之。

作為行銷的主要推廣工具之一，優惠券可同時使商家和消費者獲益，可謂是一個雙贏的行銷手法。然而在實務上，優惠券的總體發放數量巨大，但整體兌換率卻極低，如何提昇優惠券的兌換率成為企業的重要課題。為了吸引消費者，市面上林林總總的優惠券層出不窮，例如「好友分享券」與「買一送一券」；使用效期的表述亦有多種方式，例如「僅限1月1日可使用」與「1月1日任何時間可使用」。本文由此思考，優惠券上這些看似可隨意混用的文字訊息，也許在不知不覺中影響著消費者的思維模式，並對消費者的優惠券評價、兌換意願及兌換行爲產生作用。 本文結合解釋水平理論與框架效應理論，意圖釐清看似相同的優惠券文字訊息對消費者思維模式解釋水平的影響（實驗一），接著探討思維模式解釋水平與效期框架之適配對優惠券吸引力與兌換意願（實驗二子實驗a、b）及兌換行為（實驗三）的影響，並試圖以處理流暢性解釋此影響過程的心理機制（實驗二子實驗a、b）。 研究主要有兩點發現：（一）「好友分享券」與「買一送一券」文字訊息在影響消費者思維模式解釋水平上具有顯著差異，「好友分享券」文字訊息影響消費者處於高水平解釋思維模式；「買一送一券」文字訊息影響消費者處於低水平解釋思維模式。（二）「好友分享券」（高水平解釋）與「僅限」（限制性效期框架）、「買一送一券」（低水平解釋）與「任何時間」（開闊性效期框架）分別存在適配效果，比不適配的思維模式解釋水平與效期框架更能提升優惠券吸引力及增加消費者兌換意願。最後，本研究探討研究發現的意涵，並對未來研究方向提出建議。 / As one of the major promotional tools for marketing, coupons can benefit both consumers and retailers. Therefore, coupon marketing is considered to be a so-called win-win marketing approach. However, in practice, despite the massive number of coupons distributed, overall redemption rates remain extremely low. The question of how to raise redemption rates has become an important issue for corporations. In order to attract consumers, various coupons keep emerging in the market, such as “share with friends” coupons and “buy one, get one free” coupons. Moreover, the same redemption window can be expressed in different ways, for example, “the coupon can be used only on January 1” and “the coupon can be used anytime on January 1”. This research is interested in whether the seemingly interchangeable coupon messages exert an influence without people's realizing it on consumers’ mind-sets, coupon attractiveness, redemption intention and behavior. By combining Construal Level Theory with Framing Effect, this research attempts to explore the impact of the seemingly equivalent coupon messages on the construal level of consumers’ mind-sets (Study 1), and examine the effect of the congruency between the construal level of mind-sets and redemption window frames on coupon attractiveness, redemption intention (Study 2a & 2b) and behavior (Study 3). In addition, this research tries to draw on processing fluency to explain the mechanism underlying the effect (Study 2a & 2b). The main findings are as follows. First, “share with friends” and “buy one, get one free” influence consumers to construe their mind-sets at a high and low level, respectively. Second, the congruency between “share with friends” coupon (high-level construal) and the restrictive frame “only”, “buy one, get one free” coupon (low-level construal) and the expansive frame “anytime”, enhances coupon attractiveness and consumers’ intention to redeem. The research concludes with the implications of the findings and suggestions for future research.

處於服務大量興起的時代，創新服務成為企業關注的熱門議題且如雨後春筍般發展。然而，一個新服務的成功並不在於它的獨特性，而是取決於它的使用率與普及化。當中，觀察到有趣的現象，人們對於新服務的使用行為取決於自身的認知與社會影響力相互作用而產生；社會影響力在個人行為表現上扮演關鍵的因素，引導個人了解認知差距並提供建議改善認知以促進個人產生使用意圖。在本研究中，整合行為改變模型(TTM)、傳播理論、框架效應而發展出一套理論架構，並應用視覺化方式呈現資訊提供個人快速理解重點，重塑個人對於新服務的認知，且引起他們願意使用新服務的想法。基於認知重塑的目標，本研究貢獻為設計一套能輔助個人進行行為意向改變與加速新服務使用率的系統。 / In the service growing era, service innovation becomes a popular topic on the businesses who want to develop innovative services for people. However, the success factor is not on how special a service is; but rather, depends on how much utility and popularity of the service. This study has observed the interesting phenomenon that people's behavior performance depends on their cognition and the social influence playing an important role on affecting the intention. In order to resolve this condition, this study connects the transtheoretical model (TTM) of behavior change, communication theories, and frame effect model to develop a framework and apply visualization to provide people with the integral information that can reframe their cognition to enhance their intention to accept the new service. Based on the cognition reframing, this study develops an artifact the can assist people to exercise the cognition adjustment that can reinforce the behavior intention change and facilitate the usage of new service.

本研究欲探討以個人認知需求為調節變項，考量框架效應和個人與工作適配度，是否對工作預期和求職吸引力產生影響。先前Buda和Charnov (2003)的研究僅闡釋低認知需求較易受框架效應影響，而本研究則欲進一步瞭解，是否高認知需求者在評估求職吸引力時，受個人與工作適配度影響較大。本研究採2x2 x2受試者間之實驗設計，所操弄獨變項為：框架效應（正負相框架訊息）。依變項為「求職吸引力」，「認知需求」為調節變項。 本研究之受試者為204位大學生，研究結果顯示個人與工作適配度與求職吸引力有正相關，當個人與工作適配度愈高，求職吸引力愈高。當應徵者為高認知需求者，個人與工作適配度與求職吸引力間的關係高於應徵者為低認知需求者。研究者分別就結果加以討論，提出可能的解釋，並檢討本研究之限制與貢獻。