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
Risk perceptions of COVID-19 around the world
Sarah Dryhurst,Claudia R. Schneider,John R. Kerr,Alexandra L. J. Freeman,Gabriel Recchia,Anne Marthe van der Bles,David Spiegelhalter,Sander van der Linden +7 more
TL;DR: It is found that although levels of concern are relatively high, they are highest in the UK compared to all other sampled countries, and risk perception correlated significantly with reported adoption of preventative health behaviors in all ten countries.
Journal ArticleDOI
Numeracy and Decision Making
TL;DR: Findings were consistent with highly numerate individuals being more likely to retrieve and use appropriate numerical principles, thus making themselves less susceptible to framing effects, and their affective responses were more precise.
Journal ArticleDOI
Disgust as Embodied Moral Judgment
TL;DR: Experiments 2-4 showed that the role of disgust in severity of moral judgments depends on participants' sensitivity to their own bodily sensations, indicating the importance—and specificity—of gut feelings in moral judgments.
ComponentDOI
The Economics and Psychology of Personality Traits
TL;DR: The authors explored the interface between personality psychology and economics and examined the predictive power of personality and the stability of personality traits over the life cycle, and developed simple analytical frameworks for interpreting the evidence in personality psychology.
Journal ArticleDOI
Who Gambles in the Stock Market
TL;DR: In this article, the propensity to gamble and investment decisions are correlated, and individual investors prefer stocks with lottery features, and like lottery demand, the demand for lottery-type stocks increases during economic downturns.
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.