Emotion and Reason in Everyday Risk Perception

Abstract

Emotion in everyday risk perception 2 ABSTRACT Although research has documented the importance of emotion in risk perception, little is known about its prevalence in everyday life. Using the Experience Sampling Method, 94 part-time students were prompted at random -via cellular telephones -to report on mood state and three emotions and to assess risk on thirty occasions during their working hours. The emotionsvalence, arousal, and dominance -were measured using self-assessment manikins (Bradley & Lang, 1994). Hierarchical linear models (HLM) revealed that mood state and emotions explained significant variance in risk perception. In addition, valence and arousal accounted for variance over and above "reason" (measured by severity and possibility of risks). Six risks were reassessed in a post-experimental session and found to be lower than their real-time counterparts.The study demonstrates the feasibility and value of collecting representative samples of data with simple technology. Evidence for the statistical consistency of the HLM estimates is provided in an Appendix.

The Influence of Affect on Heuristic Thinking in Insurance Demand

“…Hogarth et al. (), for example, find that emotional states explain significant variance in everyday risk perception. Regarding the decision process, increased emotional arousal has been shown to reduce the cognitive capacity of an individual (Pham, ), which favors heuristic thinking over more substantive processing strategies (Forgas, ).…”

The effect of anger and anxiety traits on investment decisions

“…On the other hand, anxiety has been defined as an emotional response involving unpleasant feelings of tension, apprehensive and worried thoughts and it prompts avoidant and conservative behavior (Raghunathan & Pham, 1999;Wilt, Oehlberg, & Revelle, 2011). Since emotions have developed through evolutionary processes, they are often functional and important in both the assessment of situations and the consequent decisions (e.g., Finucane, Alhakami, Slovic, & Johnson, 2000;Hogarth, Portell, Cuxart, & Kolev, 2011).…”

The Interference of Emotion Risk Decision-Making: An Experimental Study With Controllership Professionals

“…Algumas pesquisas já apontam para o impacto das Emoções no processo decisório. (JOHNSON;TVERSY, 1983;MITTAL;ROSS, 1998;SLOVIC, 1999;DAMASIO, 1994;FORGAS, 2000;ISEN, 2001;FRITH;SINGER, 2008;HOGARTH;et.al, 2011).…”