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
A Fundamental Prediction Error: Self-Others Discrepancies in Risk Preference
TL;DR: The authors found that participants predicted others to be more risk seeking than themselves in risky choices, regardless of whether the choices were between options with negative outcomes or with positive outcomes, and this self-others discrepancy persisted even if a monetary incentive was offered for accurate prediction.
Journal ArticleDOI
Just Who Are You Calling Risk Averse
R. Mark Isaac,Duncan James +1 more
TL;DR: In this paper, the authors estimate individual risk preferences based upon data that are generated by the same individuals acting in different institutions and show that the estimated numerical values of individuals' implied risk parameters are not stable within individuals across institutions.
Journal ArticleDOI
Anxiety and the Processing of Emotionally Threatening Stimuli: Distinctive Patterns of Selective Attention among High‐ and Low‐Test‐Anxious Children
TL;DR: Selective attention mechanisms influence children's processing of threatening information and may play a role in the regulation and dysregulation of childhood anxiety.
Book
Why zebras don't get ulcers : a guide to stress, stress related diseases, and coping
TL;DR: Sapolsky's "Why Zebras Don't Get Ulcers" as discussed by the authors describes the physical toll associated with emotional turmoil and discusses some proven effective ways of learning to moderate the body's responses to stress.