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We examined the impact of specific emotions on the endowment effect, the tendency for selling prices to exceed buying or “choice” prices for the same object. As predicted by appraisal-tendency theory, disgust induced by a prior, irrelevant situation carried over to normatively unrelated economic decisions, reducing selling and choice prices and eliminating the endowment effect. Sadness also carried over, reducing selling prices but increasing choice prices—producing a “reverse endowment effect” in which choice prices exceeded selling prices. The results demonstrate that incidental emotions can influence decisions even when real money is at stake, and that emotions of the same valence can have opposing effects on such decisions.

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The aftermath of September 11th highlights the need to understand how emotion affects citizens' responses to risk. It also provides an opportunity to test current theories of such effects. On the basis of appraisal-tendency theory, we predicted opposite effects for anger and fear on risk judgments and policy preferences. In a nationally representative sample of Americans (N = 973, ages 13-88) fear increased risk estimates and plans for precautionary measures; anger did the opposite. These patterns emerged with both experimentally induced emotions and naturally occurring ones. Males had less pessimistic risk estimates than did females, emotion differences explaining 60 to 80% of the gender difference. Emotions also predicted diverging public policy preferences. Discussion focuses on theoretical, methodological, and policy implications.

Unlike typical negotiation experiments, these studies investigated when men and women initiate negotiations in the absence of overt prescriptions to negotiate. Using a new experimental paradigm, the authors showed that the framing of situations is a critical driver of gender differences in initiating negotiations. Drawing on literature on language, power, and politeness, the authors argued that framing situations as opportunities for negotiation is particularly intimidating to women, as this language is inconsistent with norms for politeness among low-power individuals, such as women. By contrast, framing situations as opportunities for asking is much less intimidating to women, as this language is more polite and role-consistent. Consequently, gender differences in initiating negotiations persisted when situations were framed as opportunities for negotiation yet were eliminated when situations were framed as opportunities to ask. Moreover, primed power attenuated gender differences in aversive reactions to the negotiation frame. In all, the studies presented begin to elucidate the reasons for gender differences in initiating negotiations and further illustrate that such effects depend on the situation.

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