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Rational actors or rational fools: implications of the affect heuristic for behavioral economics

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  • Slovic, Paul
  • Finucane, Melissa
  • Peters, Ellen
  • MacGregor, Donald G.
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

    Volume (Year): 31 (2002)
    Issue (Month): 4 ()
    Pages: 329-342

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    Handle: RePEc:eee:soceco:v:31:y:2002:i:4:p:329-342

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    Web page: http://www.elsevier.com/locate/inca/620175

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    1. Hsee, Christopher K., 1995. "Elastic Justification: How Tempting but Task-Irrelevant Factors Influence Decisions," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 62(3), pages 330-337, June.
    2. Loewenstein, George, 1996. "Out of Control: Visceral Influences on Behavior," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 65(3), pages 272-292, March.
    3. Kahneman, Daniel & Schkade, David & Sunstein, Cass R, 1998. "Shared Outrage and Erratic Awards: The Psychology of Punitive Damages," Journal of Risk and Uncertainty, Springer, Springer, vol. 16(1), pages 49-86, April.
    4. Hsee, Christopher K., 1996. "The Evaluability Hypothesis: An Explanation for Preference Reversals between Joint and Separate Evaluations of Alternatives," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 67(3), pages 247-257, September.
    5. Fetherstonhaugh, David, et al, 1997. "Insensitivity to the Value of Human Life: A Study of Psychophysical Numbing," Journal of Risk and Uncertainty, Springer, Springer, vol. 14(3), pages 283-300, May-June.
    6. Baron, Jonathan, 1997. "Confusion of Relative and Absolute Risk in Valuation," Journal of Risk and Uncertainty, Springer, Springer, vol. 14(3), pages 301-9, May-June.
    7. Mellers, Barbara A. & Richards, Virginia & Birnbaum, Michael H., 1992. "Distributional theories of impression formation," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 51(3), pages 313-343, April.
    8. Ordonez, Lisa & Benson, Lehman, 1997. "Decisions under Time Pressure: How Time Constraint Affects Risky Decision Making," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 71(2), pages 121-140, August.
    9. Hsee, Christopher K., 1996. "Elastic Justification: How Unjustifiable Factors Influence Judgments," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 66(1), pages 122-129, April.
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    Cited by:
    1. Lucius Caviola & Nadira Faulmüller & Jim. A. C. Everett & Julian Savulescu & Guy Kahane, 2014. "The evaluability bias in charitable giving: Saving administration costs or saving lives?," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 9(4), pages 303-315, July.
    2. Yan Li, 2011. "Emotions and new venture judgment in China," Asia Pacific Journal of Management, Springer, Springer, vol. 28(2), pages 277-298, June.
    3. Gurevich, Gregory & Kliger, Doron, 2013. "The Manipulation: Socio-economic decision making," Journal of Economic Psychology, Elsevier, Elsevier, vol. 39(C), pages 171-184.
    4. Kristina Shampan'er & Dan Ariely, 2006. "How small is zero price? : the true value of free products," Working Papers, Federal Reserve Bank of Boston 06-16, Federal Reserve Bank of Boston.
    5. Park, Beum-Jo, 2014. "Time-varying, heterogeneous risk aversion and dynamics of asset prices among boundedly rational agents," Journal of Banking & Finance, Elsevier, vol. 43(C), pages 150-159.
    6. D. T. Vergura & S. Latusi, 2013. "La Mobilità Del Consumatore Tra Formati Distributivi Nel Settore Dell’Abbigliamento: Un’Indagine Empirica," Economics Department Working Papers 2013-MK03, Department of Economics, Parma University (Italy).
    7. Innocenti, Alessandro & Lattarulo, Patrizia & Pazienza, Maria Grazia, 2013. "Car stickiness: Heuristics and biases in travel choice," Transport Policy, Elsevier, vol. 25(C), pages 158-168.
    8. Pugno, Maurizio, 2008. "Economics and the self: A formalisation of self-determination theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, Elsevier, vol. 37(4), pages 1328-1346, August.
    9. D. T. Vergura, 2013. "Credenze: I Dadi Truccati Del Gioco D’Azzardo," Economics Department Working Papers 2013-MK02, Department of Economics, Parma University (Italy).
    10. Eric Schniter & Timothy Shields, 2013. "Recalibrational Emotions and the Regulation of Trust-Based Behaviors," Working Papers 13-16, Chapman University, Economic Science Institute.
    11. Shahar Ayal & Guy Hochman & Dan Zakay, 2011. "Two sides of the same coin: Information processing style and reverse biases," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 6(4), pages 295-306, June.
    12. M. Lambert & G. Hübner & P.-A. Michel & H. Olivier, 2006. "International Financial Reporting Standards and Market Efficiency: A European Perspective," LSF Research Working Paper Series 06-04, Luxembourg School of Finance, University of Luxembourg.
    13. Stephan Dickert & Janet Kleber & Ellen Peters & Paul Slovic, 2011. "Numeracy as a precursor to pro-social behavior: The impact of numeracy and presentation format on the cognitive mechanisms underlying donation decisions," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 6(7), pages 638-650, October.
    14. Andreas Glockner & Tilmann Betsch, 2011. "The Empirical content of theories in judgment and decision making: Shortcomings and remedies," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 6(8), pages 711-721, December.
    15. Monga, Ashwani & Rao, Akshay R., 2006. "Domain-based asymmetry in expectations of the future," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 100(1), pages 35-46, May.

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