Journal ArticleDOI
Risk as feelings.
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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
Analyzing and managing risks – on the importance of gender differences in risk attitudes
TL;DR: In this article, gender differences in risk analysis and risk management are reported and assessed, and the authors seek to show optimal strategies for firms to cope with analysis and management of risks.
Journal ArticleDOI
The Role of Anticipated Emotions in Purchase Intentions
TL;DR: This article proposed a holistic framework formed by four kinds of anticipated emotions (AEs) resulting from the crossing of positive- or negative-valenced emotions with action or inaction, and found that consumers under a purchase scenario tend to consider positive and negative AEs of both purchase and non-purchase in their decisions.
Journal ArticleDOI
Decision-Making Under Risk Integrating Perspectives From Biology, Economics, and Psychology
TL;DR: This review critically examines four of the most influential theories of decision-making from economics, psychology, and biology: expected utility theory, prospect theory, risk-sensitivity theory, and heuristic approaches.
Book
Thinking : psychological perspectives on reasoning, judgment and decision making
David Hardman,Laura Macchi +1 more
TL;DR: In this paper, a theory of Hypothetical Thinking is proposed to explain the differences in the development of reasoning strategies across different deductive reasoning domains, and the benefits of cognitive limits are discussed.
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.