Journal ArticleDOI
Risk as feelings.
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TLDR
This article proposed the risk-as-feelings hypothesis, which highlights the role of affect experienced at the moment of decision making, and showed that emotional reactions to risky situations often diverge from cognitive assessments of those risks.Abstract:
Virtually all current theories of choice under risk or uncertainty are cognitive and consequentialist. They assume that people assess the desirability and likelihood of possible outcomes of choice alternatives and integrate this information through some type of expectation-based calculus to arrive at a decision. The authors propose an alternative theoretical perspective, the risk-as-feelings hypothesis, that highlights the role of affect experienced at the moment of decision making. Drawing on research from clinical, physiological, and other subfields of psychology, they show that emotional reactions to risky situations often diverge from cognitive assessments of those risks. When such divergence occurs, emotional reactions often drive behavior. The risk-as-feelings hypothesis is shown to explain a wide range of phenomena that have resisted interpretation in cognitive-consequentialist terms.read more
Citations
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Journal ArticleDOI
Affective and Cognitive Decision-Making in Adolescents
TL;DR: Comparisons of adolescents' performance on matched affective and cognitive decision-making tasks indicated that in the affective task, adolescents performed sub-optimally by considering only the frequency of loss, whereas in the cognitive task adolescents used relatively mature decision rules by considering two or all three choice dimensions.
Journal ArticleDOI
The rationality of emotions: A hybrid process model of decision-making under uncertainty
TL;DR: In this article, the authors derive a hybrid process decision-making model to integrate the effects from cognition and emotions varying with the levels of uncertainty, and seek to differentiate the rationality of emotions from the instrumental, functional, and expressive mechanisms in decision making.
Journal ArticleDOI
Dissociations in future thinking following hippocampal damage: evidence from discounting and time perspective in episodic amnesia.
TL;DR: Comparisons with demographically matched controls indicated that aspects of temporal thought and future-oriented decision making are preserved in individuals with hippocampal amnesia despite their inability to imagine themselves in detailed future events.
Journal ArticleDOI
Childhood determinants of risk aversion: The long shadow of compulsory education
TL;DR: The authors studied the determinants of individual attitudes toward risk and why some individuals exhibit extremely high risk aversion, finding that policy induced increases in high school graduation rates lead to significantly fewer individuals being highly risk averse in the next generation.
Journal ArticleDOI
Physical Contact and Financial Risk Taking
Jonathan Levav,Jennifer Argo +1 more
TL;DR: It is shown that minimal physical contact can increase people’s sense of security and consequently lead them to increased risk-taking behavior and the results suggest that subtlePhysical contact can be strongly influential in decision making and the willingness to accept risk.
References
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Book ChapterDOI
Prospect theory: an analysis of decision under risk
Daniel Kahneman,Amos Tversky +1 more
TL;DR: In this paper, the authors present a critique of expected utility theory as a descriptive model of decision making under risk, and develop an alternative model, called prospect theory, in which value is assigned to gains and losses rather than to final assets and in which probabilities are replaced by decision weights.
Journal ArticleDOI
Prospect theory: analysis of decision under risk
Daniel Kahneman,Amos Tversky +1 more
Book
Understanding Attitudes and Predicting Social Behavior
Icek Ajzen,Martin Fishbein +1 more
TL;DR: In this paper, the author explains "theory and reasoned action" model and then applies the model to various cases in attitude courses, such as self-defense and self-care.
Book
Handbook of social psychology
TL;DR: In this paper, Neuberg and Heine discuss the notion of belonging, acceptance, belonging, and belonging in the social world, and discuss the relationship between friendship, membership, status, power, and subordination.
Book
Descartes' Error: Emotion, Reason, and the Human Brain
TL;DR: The authors argued that rational decisions are not the product of logic alone - they require the support of emotion and feeling, drawing on his experience with neurological patients affected with brain damage, Dr Damasio showed how absence of emotions and feelings can break down rationality.