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Current Emotion Research in Economics

Klaus Wälde () and Agnes Moors ()
Additional contact information
Agnes Moors: KU Leuven

No 1612, Working Papers from Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz

Abstract: Positive and negative feelings were central to the development of economics, especially in utility theory in classical economics. While neoclassical utility theory ignored feelings, behavioral economics more recently reintroduced feelings in utility theory. Beyond feelings, economic theorists use full-fledged specific emotions to explain behavior that otherwise could not be understood or they study emotions out of interest for the emotion itself. While some analyses display a strong overlap between psychological thinking and economic modelling, in most cases there is still a large gap between economic and psychological approaches to emotion research. Ways how to reduce this gap are discussed.

Pages: 15 pages
Date: 2016-07
New Economics Papers: this item is included in nep-evo, nep-exp, nep-ger, nep-hme, nep-hpe, nep-neu and nep-upt
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https://download.uni-mainz.de/RePEc/pdf/Discussion_Paper_1612.pdf First version, 2016 (application/pdf)

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Working Paper: Current Emotion Research in Economics (2016) Downloads
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