 Tversky and Kahneman report that a majority of respondents (72 percent) chose option (a), whereas a majority of respondents (78 percent) shown an equivalent reformulation of the problem in terms of the number of people who would die rather than survive chose (b). A meta-analysis of subsequent experiments has shown that the framing condition accounts for most of the variance, but it also reveals no linear combination of formally specified predictors that are used in prospect theory, cumulative prospect theory, and Markowitz’s utility theory, suffices to capture this framing effect (Kühberger, Schulte-Mecklenbeck, &amp; Perner 1999).