Emotion and reason in everyday risk perception
AbstractAlthough 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 emotions – valence, 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.
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 1108.
Date of creation: Sep 2008
Date of revision: Jul 2009
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Web page: http://www.econ.upf.edu/
Representative design; experience sampling method; risk perception; emotional reactions; self-assessment manikins (SAM); retrospective judgment; multilevel analysis;
Find related papers by JEL classification:
- C39 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Other
- C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
- M10 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-09-13 (All new papers)
- NEP-CBE-2008-09-13 (Cognitive & Behavioural Economics)
- NEP-EXP-2008-09-13 (Experimental Economics)
- NEP-UPT-2008-09-13 (Utility Models & Prospect Theory)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robin Hogarth & Mariona Portell & Anna Cuxart, 2007. "What risks do people perceive in everyday life? A perspective gained from the experience sampling method (ESM)," Economics Working Papers 1005, Department of Economics and Business, Universitat Pompeu Fabra.
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