When Gain/Loss Framing Exerts Its Effects and How: Examining the Roles of Risk Perceptions, Anticipated Regret, and Anxiety

ABSTRACT Over the past 30 years, gain/loss framing has received substantial scholarly attention from advertising researchers. Nevertheless, its effects are not yet fully understood, and further research is required to clarify mixed findings reported in previous studies. In response to this gap in the literature, this study examined the mechanisms through which risk perceptions affect gain/loss framing effects, using two experiments involving different levels of risks. Experiment 1, which involves low risk, showed that gain framing was more effective for consumers with stronger risk perceptions. However, this advantage disappeared when consumers' risk perceptions were weak. In Experiment 2, which involves high risk, loss framing was more effective for consumers with weaker risk perceptions; however, these effects disappeared when consumers' risk perceptions were very strong. The study also revealed that anticipated regret mediates the interaction effects of framing and risk perceptions on attitudes and intentions. The findings of this study suggest that risk perceptions may help explain the inconsistent results reported in previous research.