Journal ArticleDOI
Risk as feelings.
Reads0
Chats0
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
More filters
Journal ArticleDOI
Towards a comparative science of emotion: Affect and Consciousness in humans and animals
TL;DR: This work has shown that neural correlates of conscious emotion can be investigated in humans and animals and contemporary theories of consciousness have differing implications for animals.
Posted Content
Estimating Risk Tolerance: The Degree of Accuracy and the Paramorphic Representations of the Estimate
TL;DR: In this paper, a study was conducted to determine how effective financial advisors and clients are at estimating risk-tolerance, and to test how well items from a risk tolerance test and demographic information can represent the judgmental process used to formulate these estimates (a paramorphic representation of the decision).
Journal ArticleDOI
What a Feeling: The Role of Immediate and Anticipated Emotions in Risky Decisions
TL;DR: The risk-as-feelings hypothesis as mentioned in this paper argues that many risky decisions are not only predicted by anticipated emotions, as most consequentialistic decision making theories would presume, but also by immediate emotions.
Posted Content
Attentional Mechanisms in the Generation of Sympathy
Stephan Dickert,Paul Slovic +1 more
TL;DR: This paper found that online sympathy judgments that allow attentional focusing on a target lead to greater affective responses than judgments made from memory, and conclude that attention is an ingredient in the generation of sympathy, and discuss implications for research on prosocial behaviour and the interaction between attention and emotions.
Journal ArticleDOI
Decision making for others involving risk: A review and meta-analysis
Evan Polman,Kaiyang Wu +1 more
TL;DR: The authors conducted a meta-analysis of 128 effects from 71 published and unpublished papers (totaling 14,443 observations) and found a significant though small effect size in favor of a risky shift when people choose for others, suggesting that the net effect is susceptible to moderating factors or study characteristics.
References
More filters
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.