Sadder but wiser: The effects of emotional states on ambiguity attitudes
2015; Elsevier BV; Volume: 53; Linguagem: Inglês
10.1016/j.joep.2015.12.008
ISSN1872-7719
AutoresAurélien Baillon, Philipp Koellinger, Theresa Treffers,
Tópico(s)Social and Intergroup Psychology
ResumoAbstract Many important decisions are made without precise information about the probabilities of the outcomes. In such situations, individual ambiguity attitudes influence decision making. The present study identifies emotions as a transient cause of ambiguity attitudes. We conducted two random-assignment, incentive-compatible laboratory experiments, varying subjects’ emotional states. We find that sadness induces choices that are closer to ambiguity-neutral attitudes compared with the joy, fear, and control groups, where decision makers deviate more from payoff-maximizing behavior.
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