The effect of emotion and time pressure on risk decision-making
Guangxing Xu and
Journal of Risk Research, 2015, vol. 18, issue 5, 637-650
Emotion and time pressure are two important factors affecting risk decision-making. This study explored the interaction of emotion and time pressure on risk decision-making by adopting 3 (emotion state: positive emotion, negative emotion, and control group)×2 (time constraint: high time constraint and no time constraint) between-subject experiment design. The results showed that (1) both emotion and time pressure exerted significant effect on risk decision-making (generally, positive emotion renders participants more risk prone than negative emotion, and high time pressure promotes people more risk seeking than no time pressure); (2) time pressure polarized the effects of different emotions on risk decision-making. As effects of emotions were polarized under high time pressure, two distinct cognitive pathways may function in human decision-making. Based on our experimental result and previous neuroeconomic works, we proposed a novel dual cognitive pathways model to explain phenomenon in the current article.
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Persistent link: https://EconPapers.repec.org/RePEc:taf:jriskr:v:18:y:2014:i:5:p:637-650
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