Emotional–motivational responses predicting choices: The role of asymmetrical frontal cortical activity

Niklas Ravaja, Pekka Korhonen, Murat Köksalan, Jari Lipsanen, Mikko Salminen, Outi Somervuori and Jyrki Wallenius

Journal of Economic Psychology, 2016, vol. 52, issue C, 56-70

Abstract: We examined (a) how emotional attachment to a choice option as indexed by state-related changes in electroencephalographic (EEG) asymmetry over the prefrontal cortex and electrodermal activity predicts choices and mediates the endowment effect and (b) the emotional–motivational responses to trade-off choices. Thirty-eight participants made choices between three 4-product packages, in which the frequency of each of the products varied. Greater relative left frontal activation and high peak skin conductance level (SCL) elicited by a previously selected choice option predicted a stronger endowment effect, suggesting that approach motivation and emotional attachment mediate the endowment effect. Not selecting a choice option with high emotional attachment elicited relatively greater right hemisphere activation, supporting also the role of loss aversion in the endowment effect. In addition, high trade-off difficulty was associated with increased withdrawal motivation (or less approach motivation) and negatively valenced arousal. We conclude with a discussion of practical implications of our findings.

Keywords: Choice behavior; Emotion; Endowment effect; Neurophysiology; Frontal asymmetry (search for similar items in EconPapers)
JEL-codes: D03 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:52:y:2016:i:c:p:56-70

DOI: 10.1016/j.joep.2015.11.007

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