There is a large volume of research showing that emotions have relevant effects on decision-making. We contribute to this literature by experimentally investigating the impact of four specific emotional statesjoviality, sadness, fear and angeron risk attitudes. In order to do so, we fit two models of behaviour under risk: the expected utility model and the rank dependent expected utility model, assuming several functional forms of the weighting function. Our results indicate that all emotional states mitigate risk aversion. Furthermore, we show that there are some differences across gender and participants' experience in laboratory experiments.
Conte, A., Vittoria Levati, M., Nardi, C., Risk Preferences and the Role of Emotions, <<ECONOMICA>>, 2018; 85 (338): 305-328. [doi:10.1111/ecca.12209] [https://hdl.handle.net/10807/260719]
Risk Preferences and the Role of Emotions
Nardi, Chiara
2018
Abstract
There is a large volume of research showing that emotions have relevant effects on decision-making. We contribute to this literature by experimentally investigating the impact of four specific emotional statesjoviality, sadness, fear and angeron risk attitudes. In order to do so, we fit two models of behaviour under risk: the expected utility model and the rank dependent expected utility model, assuming several functional forms of the weighting function. Our results indicate that all emotional states mitigate risk aversion. Furthermore, we show that there are some differences across gender and participants' experience in laboratory experiments.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.