The Role of Emotions in Decision Making: Theory, Evidence, and Examples from Media Psychology

Gregory Gurevich and Doron Kliger

Chapter 8 in Behavioral Finance:Where Do Investors' Biases Come From?, 2016, pp 219-237 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Converging evidence fromdiverse areas of research suggests that emotions take an active part in decision making. We survey some of the ample work done on emotion research, in the fields of behavioral economics, cognitive neuroscience, and neuropsychology. Further, we discuss relevant theoretical and empirical studies in media psychology. The emerging picture shows that emotions and affective states constitute an integral part of decision making, often assuming the important role of informational mediators, primarily in social contexts.

Keywords: Behavioral Finance; Rationality; Experimental Finance; Reference Points; Professionals; Gender; Culture and Finance; Equity Premium (search for similar items in EconPapers)
JEL-codes: D91 (search for similar items in EconPapers)
Date: 2016
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