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Emotional–motivational responses predicting choices: The role of asymmetrical frontal cortical activity

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  • Ravaja, Niklas
  • Korhonen, Pekka
  • Köksalan, Murat
  • Lipsanen, Jari
  • Salminen, Mikko
  • Somervuori, Outi
  • Wallenius, Jyrki

Abstract

We examined (a) how emotional attachment to a choice option as indexed by state-related changes in electroencephalographic (EEG) asymmetry over the prefrontal cortex and electrodermal activity predicts choices and mediates the endowment effect and (b) the emotional–motivational responses to trade-off choices. Thirty-eight participants made choices between three 4-product packages, in which the frequency of each of the products varied. Greater relative left frontal activation and high peak skin conductance level (SCL) elicited by a previously selected choice option predicted a stronger endowment effect, suggesting that approach motivation and emotional attachment mediate the endowment effect. Not selecting a choice option with high emotional attachment elicited relatively greater right hemisphere activation, supporting also the role of loss aversion in the endowment effect. In addition, high trade-off difficulty was associated with increased withdrawal motivation (or less approach motivation) and negatively valenced arousal. We conclude with a discussion of practical implications of our findings.

Suggested Citation

  • Ravaja, Niklas & Korhonen, Pekka & Köksalan, Murat & Lipsanen, Jari & Salminen, Mikko & Somervuori, Outi & Wallenius, Jyrki, 2016. "Emotional–motivational responses predicting choices: The role of asymmetrical frontal cortical activity," Journal of Economic Psychology, Elsevier, vol. 52(C), pages 56-70.
    • Handle: RePEc:eee:joepsy:v:52:y:2016:i:c:p:56-70
    DOI: 10.1016/j.joep.2015.11.007
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    Cited by:

    1. Korhonen, Pekka J. & Malo, Pekka & Pajala, Tommi & Ravaja, Niklas & Somervuori, Outi & Wallenius, Jyrki, 2018. "Context matters: The impact of product type, emotional attachment and information overload on choice quality," European Journal of Operational Research, Elsevier, vol. 264(1), pages 270-279.
    2. Marrero, Hipólito & Gámez, Elena & Díaz, José M., 2016. "Do people reason when they accept tricky offers? A case of approach and avoidance motivated reasoning," Journal of Economic Psychology, Elsevier, vol. 57(C), pages 26-38.
    3. Ana B. Ruiz & Francisco Ruiz & Kaisa Miettinen & Laura Delgado-Antequera & Vesa Ojalehto, 2019. "NAUTILUS Navigator: free search interactive multiobjective optimization without trading-off," Journal of Global Optimization, Springer, vol. 74(2), pages 213-231, June.
    4. Korhonen, Pekka J. & Wallenius, Jyrki & Genc, Tolga & Xu, Peng, 2021. "On rational behavior in multi-attribute riskless choice," European Journal of Operational Research, Elsevier, vol. 288(1), pages 331-342.

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    More about this item

    Keywords

    Choice behavior; Emotion; Endowment effect; Neurophysiology; Frontal asymmetry;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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