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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The emotional dog and its rational tail: a social intuitionist approach to moral judgment.
TL;DR: The author gives 4 reasons for considering the hypothesis that moral reasoning does not cause moral judgment; rather, moral reasoning is usually a post hoc construction, generated after a judgment has been reached.
Journal ArticleDOI
Gender Differences in Preferences
Rachel Croson,Uri Gneezy +1 more
TL;DR: This paper reviewed the literature on gender differences in economic experiments and identified robust differences in risk preferences, social (other-regarding) preferences, and competitive preferences, speculating on the source of these differences and their implications.
Journal ArticleDOI
A perspective on judgment and choice: Mapping bounded rationality.
TL;DR: Determinants and consequences of accessibility help explain the central results of prospect theory, framing effects, the heuristic process of attribute substitution, and the characteristic biases that result from the substitution of nonextensional for extensional attributes.
Journal ArticleDOI
Maps of Bounded Rationality: Psychology for Behavioral Economics
TL;DR: Kahneman as mentioned in this paper made a statement based on worked out together with Shane Federik the quirkiness of human judgment, which was later used in his speech at the Nobel Prize in economics.
Book
Heuristics and Biases: The Psychology of Intuitive Judgment
TL;DR: In this article, a review is presented of the book "Heuristics and Biases: The Psychology of Intuitive Judgment, edited by Thomas Gilovich, Dale Griffin, and Daniel Kahneman".
References
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Journal ArticleDOI
Cognitive functioning and anxiety
TL;DR: The evidence indicates that there are such differences in the processing of threatening stimuli as a function of trait anxiety, however, these differences are found only under certain conditions, for example, when threatening and nonthreatening stimuli are presented concurrently.
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The Impact of Anticipating Satisfaction on Consumer Choice
Baba Shiv,Joel Huber +1 more
TL;DR: In a series of three studies, the authors found that preferences change depending on the degree to which anticipated satisfaction is evoked by consumers when compared to choice, which elicits a mental-imaging processing strategy that is both effort intensive and qualitatively different.
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Emotional Trade-Off Difficulty and Choice:
TL;DR: In this paper, the authors explore whether choice patterns are sensitive to the potential of relevant trade-offs to elicit negative emotion and find that decision makers increasingly become sensitive to negative emotion across three experiments.
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Sources of relapse after extinction in Pavlovian and instrumental learning
TL;DR: This article reviews animal learning research which suggests that extinction does not erase the original learning, but rather makes behavior especially sensitive to the background, or context, in which it occurs.