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Prospect theory postulates that decisions are influenced not only by probability and value of possible outcomes, but also by the manner in which these probabilities are presented. Variations in the presentation of the same information, in several areas of care, are considered to determine their influence upon health decisions of both doctors and patients. Three health‐related predicaments involving varying levels of risk are presented either in a positive or a negative frame and were given to 74 medical students who stated whether they would advise a patient or be prepared themselves to undergo one of three medical procedures. The influence of framing upon these decisions was evident both when subjects responded as patients and as doctors, but its influence was bounded by the level of risk and the type of health decision. These findings raise questions concerning how probabilistic information should be …