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

Citations

Cited by:

1. Sara Ekholm & Anna Olofsson, 2017. "Parenthood and Worrying About Climate Change: The Limitations of Previous Approaches," Risk Analysis, John Wiley & Sons, vol. 37(2), pages 305-314, February.
2. Stephan Dickert & Paul Slovic, 2009. "Attentional mechanisms in the generation of sympathy," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 4(4), pages 297-306, June.
3. repec:cup:judgdm:v:2:y:2007:i::p:1-8 is not listed on IDEAS
4. 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.
5. Manzini Paola & Mariotti Marco, 2004. "A Theory of Vague Expected Utility," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 4(1), pages 1-17, December.
   • Paola Manzini & Marco Mariotti, 2003. "A Theory of Vague Expected Utility," Game Theory and Information 0304003, University Library of Munich, Germany, revised 16 Jul 2004.
6. Sudeep Bhatia, 2019. "Predicting Risk Perception: New Insights from Data Science," Management Science, INFORMS, vol. 65(8), pages 3800-3823, August.
7. Howard Kunreuther, 2001. "Risk Analysis and Risk Management in an Uncertain World," Center for Financial Institutions Working Papers 02-08, Wharton School Center for Financial Institutions, University of Pennsylvania.
8. Miroslav Misina, 2005. "Risk Perceptions and Attitudes," Staff Working Papers 05-17, Bank of Canada.
9. 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.
10. Ritika & Nawal Kishor, 2020. "Development and validation of behavioral biases scale: a SEM approach," Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 14(2), pages 237-259, November.
11. Dan Ariely & Kristina Shampan'er, 2006. "How small is zero price? : the true value of free products," Working Papers 06-16, Federal Reserve Bank of Boston.
12. Yan Li & David Ahlstrom, 2020. "Risk-taking in entrepreneurial decision-making: A dynamic model of venture decision," Asia Pacific Journal of Management, Springer, vol. 37(3), pages 899-933, September.
13. Lattarulo, Patrizia & Masucci, Valentino & Pazienza, Maria Grazia, 2019. "Resistance to change: Car use and routines," Transport Policy, Elsevier, vol. 74(C), pages 63-72.
14. Alain Verbeke & Liena Kano, 2012. "The Transaction Cost Economics Theory of the Family Firm: Family–Based Human Asset Specificity and the Bifurcation Bias," Entrepreneurship Theory and Practice, , vol. 36(6), pages 1183-1205, November.
15. Minet Schindehutte & Michael Morris & Jeffrey Allen, 2006. "Beyond Achievement: Entrepreneurship as Extreme Experience," Small Business Economics, Springer, vol. 27(4), pages 349-368, December.
16. Pavlova, Natalia (Павлова, Наталья) & Shastitko, Anastasia (Шаститко, Анастасия), 2017. "Behavioral Aspects of the Regulator's Actions [Поведенческие Аспекты Действий Регулятора]," Working Papers 051714, Russian Presidential Academy of National Economy and Public Administration.
17. Arnout R. H. Fischer & Aarieke E. I. De Jong & Rob De Jonge & Lynn J. Frewer & Maarten J. Nauta, 2005. "Improving Food Safety in the Domestic Environment: The Need for a Transdisciplinary Approach," Risk Analysis, John Wiley & Sons, vol. 25(3), pages 503-517, June.
18. Tsoukias, Alexis, 2008. "From decision theory to decision aiding methodology," European Journal of Operational Research, Elsevier, vol. 187(1), pages 138-161, May.
19. Yosuke Hashidate, 2018. "Social Image Concern and Reference Point Formation," CIRJE F-Series CIRJE-F-1085, CIRJE, Faculty of Economics, University of Tokyo.
20. Saes, Beatriz Macchione & Muradian, Roldan, 2021. "What misguides environmental risk perceptions in corporations? Explaining the failure of Vale to prevent the two largest mining disasters in Brazil," Resources Policy, Elsevier, vol. 72(C).
21. Brad R. Taylor, 2020. "The psychological foundations of rational ignorance: biased heuristics and decision costs," Constitutional Political Economy, Springer, vol. 31(1), pages 70-88, March.
22. Bosman, Ronald & Kräussl, Roman & van Galen, Thomas, 2014. "Emotions-at-risk: An experimental investigation into emotions, option prices and risk perception," CFS Working Paper Series 495, Center for Financial Studies (CFS).
    • Roman Kräussl & Ronald Bosman & Thomas van Galen, 2014. "Emotions-at-Risk: An Experimental Investigation into Emotions, Option Prices and Risk Perception," LSF Research Working Paper Series 14-11, Luxembourg School of Finance, University of Luxembourg.
23. Bélyácz, Iván & Kovács, Kármen, 2021. "Az egyén kognitív korlátaitól viselkedésének előrejelezhetőségéig [From the cognitive boundaries of individuals to the predictability of their behaviour]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 132-149.
24. Boshi, Shlomi & Lavie, Moshik & Weiss, Avi, 2016. "The demand for free goods: An experimental investigation," Journal of Economic Behavior & Organization, Elsevier, vol. 123(C), pages 108-121.
25. Benjamin Hermalin & Alice Isen, 2008. "A model of the effect of affect on economic decision making," Quantitative Marketing and Economics (QME), Springer, vol. 6(1), pages 17-40, March.
26. repec:cup:judgdm:v:9:y:2014:i:4:p:303-315 is not listed on IDEAS
27. Rita Saleh & Angela Bearth & Michael Siegrist, 2019. "“Chemophobia” Today: Consumers’ Knowledge and Perceptions of Chemicals," Risk Analysis, John Wiley & Sons, vol. 39(12), pages 2668-2682, December.
28. Wei Pan & Yi-Shin Chen, 2018. "Network approach for decision making under risk—How do we choose among probabilistic options with the same expected value?," PLOS ONE, Public Library of Science, vol. 13(4), pages 1-19, April.
29. Chris Provis, 2010. "Virtuous Decision Making for Business Ethics," Journal of Business Ethics, Springer, vol. 91(1), pages 3-16, February.
30. Andrew Austin & Nathaniel T. Wilcox, 2004. "Believing in Economic Theory: Sex, Lies, Evidence, Trust and Ideology," CERGE-EI Working Papers wp238, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    • Nathaniel Wilcox, 2004. "Believing in Economic Theory: Sex, Lies, Evidence, Trust and Ideology," Working Papers 2004-06 Classification-, Department of Economics, University of Houston.
31. Valor, Carmen & Antonetti, Paolo & Crisafulli, Benedetta, 2022. "Emotions and consumers’ adoption of innovations: An integrative review and research agenda," Technological Forecasting and Social Change, Elsevier, vol. 179(C).
32. 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.
33. Jelle Schepers & Wim Voordeckers & Tensie Steijvers & Eddy Laveren, 2021. "Entrepreneurial intention-action gap in family firms: bifurcation bias and the board of directors as an economizing mechanism," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 11(3), pages 451-475, September.
34. D. T. Vergura, 2013. "Credenze: I Dadi Truccati Del Gioco D’Azzardo," Economics Department Working Papers 2013-MK02, Department of Economics, Parma University (Italy).
35. 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, vol. 37(4), pages 1328-1346, August.
36. Qian, Chen & Antonides, Gerrit & Heerink, Nico & Zhu, Xueqin & Ma, Xianlei, 2022. "An economic-psychological perspective on perceived land tenure security: Evidence from rural eastern China," Land Use Policy, Elsevier, vol. 120(C).
37. Hans-Rüdiger Pfister & Gisela Böhm, 2008. "The multiplicity of emotions: A framework of emotional functions in decision making," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 5-17, January.
38. Catherine E. Althaus, 2005. "A Disciplinary Perspective on the Epistemological Status of Risk," Risk Analysis, John Wiley & Sons, vol. 25(3), pages 567-588, June.
39. Kazeminia, Azadeh & Hultman, Magnus & Mostaghel, Rana, 2016. "Why pay more for sustainable services? The case of ecotourism," Journal of Business Research, Elsevier, vol. 69(11), pages 4992-4997.
40. repec:cup:judgdm:v:9:y:2014:i:5:p:465-478 is not listed on IDEAS
41. 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.
42. van Esch, Patrick & Cui, Yuanyuan (Gina) & Jain, Shailendra Pratap, 2021. "The effect of political ideology and message frame on donation intent during the COVID-19 pandemic," Journal of Business Research, Elsevier, vol. 125(C), pages 201-213.
43. Eric Schniter & Timothy Shields, 2013. "Recalibrational Emotions and the Regulation of Trust-Based Behaviors," Working Papers 13-16, Chapman University, Economic Science Institute.
44. 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.
45. Jorge E. Araña & Carmelo J. León, 2012. "Scale-perception bias in the valuation of environmental risks," Applied Economics, Taylor & Francis Journals, vol. 44(20), pages 2607-2617, July.
46. repec:cup:judgdm:v:6:y:2011:i:7:p:638-650 is not listed on IDEAS
47. Streicher, Tobias & Schmidt, Sascha L. & Schreyer, Dominik & Torgler, Benno, 2020. "Anticipated feelings and support for public mega projects: Hosting the Olympic Games," Technological Forecasting and Social Change, Elsevier, vol. 158(C).
48. Diego Fernandez-Duque & Timothy Wifall, 2007. "Actor/observer asymmetry in risky decision making," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 2, pages 1-8, February.
49. Kevin Fox Gotham & Richard Campanella & Katie Lauve‐Moon & Bradford Powers, 2018. "Hazard Experience, Geophysical Vulnerability, and Flood Risk Perceptions in a Postdisaster City, the Case of New Orleans," Risk Analysis, John Wiley & Sons, vol. 38(2), pages 345-356, February.
50. Caserotti, Marta & Girardi, Paolo & Rubaltelli, Enrico & Tasso, Alessandra & Lotto, Lorella & Gavaruzzi, Teresa, 2021. "Associations of COVID-19 risk perception with vaccine hesitancy over time for Italian residents," Social Science & Medicine, Elsevier, vol. 272(C).
51. Hagit Sabato & Tehila Kogut, 2021. "Happy to help—if it’s not too sad: The effect of mood on helping identifiable and unidentifiable victims," PLOS ONE, Public Library of Science, vol. 16(6), pages 1-15, June.
52. Benedetta Giovanola, 2009. "Re-Thinking the Anthropological and Ethical Foundation of Economics and Business: Human Richness and Capabilities Enhancement," Journal of Business Ethics, Springer, vol. 88(3), pages 431-444, September.
53. repec:cup:judgdm:v:3:y:2008:i::p:5-17 is not listed on IDEAS
54. Monga, Ashwani & Rao, Akshay R., 2006. "Domain-based asymmetry in expectations of the future," Organizational Behavior and Human Decision Processes, Elsevier, vol. 100(1), pages 35-46, May.
55. Dustin P. Calvillo & Jessica N. Burgeno, 2015. "Cognitive reflection predicts the acceptance of unfair ultimatum game offers," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 10(4), pages 332-341, July.
56. repec:cup:judgdm:v:6:y:2011:i:8:p:711-721 is not listed on IDEAS
57. Alison C. Cullen & C. Leigh Anderson & Pierre Biscaye & Travis W. Reynolds, 2018. "Variability in Cross‐Domain Risk Perception among Smallholder Farmers in Mali by Gender and Other Demographic and Attitudinal Characteristics," Risk Analysis, John Wiley & Sons, vol. 38(7), pages 1361-1377, July.
58. repec:cup:judgdm:v:4:y:2009:i:4:p:297-306 is not listed on IDEAS
59. Yan Li, 2011. "Emotions and new venture judgment in China," Asia Pacific Journal of Management, Springer, vol. 28(2), pages 277-298, June.
60. Yan Li & Neal M. Ashkanasy, 2019. "Risk adaptation and emotion differentiation: An experimental study of dynamic decision-making," Asia Pacific Journal of Management, Springer, vol. 36(1), pages 219-243, March.
61. Simonson, Itamar, 2007. "Will I Like A "Medium" Pillow? Another Look At Constructed And Inherent Preferences," Research Papers 1977r1, Stanford University, Graduate School of Business.
62. Ola Svenson & Nichel Gonzalez & Gabriella Eriksson, 2014. "Modeling and debiasing resource saving judgments," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 9(5), pages 465-478, September.
63. Yakir Levin & Itzhak Aharon, 2014. "Emotion, utility maximization, and ecological rationality," Mind & Society: Cognitive Studies in Economics and Social Sciences, Springer;Fondazione Rosselli, vol. 13(2), pages 227-245, November.
64. Gurevich, Gregory & Kliger, Doron, 2013. "The Manipulation: Socio-economic decision making," Journal of Economic Psychology, Elsevier, vol. 39(C), pages 171-184.
65. Louis Anthony (Tony) Cox, 2015. "Overcoming Learning Aversion in Evaluating and Managing Uncertain Risks," Risk Analysis, John Wiley & Sons, vol. 35(10), pages 1892-1910, October.
66. De Cock, Robin & Denoo, Lien & Clarysse, Bart, 2020. "Surviving the emotional rollercoaster called entrepreneurship: The role of emotion regulation," Journal of Business Venturing, Elsevier, vol. 35(2).
67. David Blandford, 2010. "Presidential Address: The Visible or Invisible Hand? The Balance Between Markets and Regulation in Agricultural Policy," Journal of Agricultural Economics, Wiley Blackwell, vol. 61(3), pages 459-479, September.
68. Leigh Anderson & Kostas G. Stamoulis, 2006. "Applying Behavioural Economics to International Development Policy," WIDER Working Paper Series RP2006-24, World Institute for Development Economic Research (UNU-WIDER).
69. Mengtian Zhao & Heather Rosoff & Richard S. John, 2019. "Media Disaster Reporting Effects on Public Risk Perception and Response to Escalating Tornado Warnings: A Natural Experiment," Risk Analysis, John Wiley & Sons, vol. 39(3), pages 535-552, March.
70. Cortés, Kristle & Duchin, Ran & Sosyura, Denis, 2016. "Clouded judgment: The role of sentiment in credit origination," Journal of Financial Economics, Elsevier, vol. 121(2), pages 392-413.
    • Kristle Romero Cortes & Ran Duchin & Denis Sosyura, 2016. "Clouded Judgment: The Role of Sentiment in Credit Origination," Working Papers (Old Series) 1601, Federal Reserve Bank of Cleveland.
71. Barrafrem, Kinga & Tinghög, Gustav & Västfjäll, Daniel, 2021. "Trust in the government increases financial well-being and general well-being during COVID-19," Journal of Behavioral and Experimental Finance, Elsevier, vol. 31(C).
72. Avi Weiss & Shlomi Boshi & Moshik Lavie, 2015. "Quasi-Free Goods and Social Norms: The Effects of Quantity Restrictions and Scrutiny," Working Papers 2015-01, Bar-Ilan University, Department of Economics.
73. Frühwirth, Manfred & Sögner, Leopold, 2015. "Weather and SAD related mood effects on the financial market," The Quarterly Review of Economics and Finance, Elsevier, vol. 57(C), pages 11-31.
74. Innocenti, Stefania & Clark, Gordon L. & McGill, Sarah & Cuñado, Juncal, 2019. "The effect of past health events on intentions to purchase insurance: Evidence from 11 countries," Journal of Economic Psychology, Elsevier, vol. 74(C).
75. Fabrice Larceneux & Thomas Lefebvre, 2016. "The " Bad Deal " Illusion," Post-Print halshs-01671084, HAL.
76. 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.
77. Melissa L. Finucane & Joan L. Holup, 2006. "Risk as Value: Combining Affect and Analysis in Risk Judgments," Journal of Risk Research, Taylor & Francis Journals, vol. 9(2), pages 141-164, March.
78. Wei Lim & Joo Lee-Partridge & Soo Tan, 2008. "Revenue implication of auction value in k-price sealed-bid auctions: An experimental study," Marketing Letters, Springer, vol. 19(1), pages 25-38, March.
79. 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.
80. repec:cup:judgdm:v:10:y:2015:i:4:p:332-341 is not listed on IDEAS
81. Thürridl, Carina & Kamleitner, Bernadette & Ruzeviciute, Ruta & Süssenbach, Sophie & Dickert, Stephan, 2020. "From happy consumption to possessive bonds: When positive affect increases psychological ownership for brands," Journal of Business Research, Elsevier, vol. 107(C), pages 89-103.
82. Min Ding & Jehoshua Eliashberg & Joel Huber & Ritesh Saini, 2005. "Emotional Bidders---An Analytical and Experimental Examination of Consumers' Behavior in a Priceline-Like Reverse Auction," Management Science, INFORMS, vol. 51(3), pages 352-364, March.
83. Maria Grazia Filomena & Bruno Pace & Massimo De Acetis & Antonio Aquino & Massimo Crescimbene & Marina Pace & Francesca Romana Alparone, 2023. "Play to Learn: A Game to Improve Seismic-Risk Perception," Sustainability, MDPI, vol. 15(5), pages 1-11, March.
84. Jagadish Thaker & Nicholas Smith & Anthony Leiserowitz, 2020. "Global Warming Risk Perceptions in India," Risk Analysis, John Wiley & Sons, vol. 40(12), pages 2481-2497, December.
85. Ilan Yaniv & Michal Sagi, 2005. "On Not Wanting to Know and Not Wanting to Inform Others: Choices Regarding Predictive Genetic Testing," Discussion Paper Series dp406, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
86. Zonglong Li & Wenyi Zhang & Yanhui Zhou & Derong Kang & Biao Feng & Qing Zeng & Lingling Xu & Minqiang Zhang, 2022. "College Students’ Entrepreneurial Intention and Alertness in the Context of the COVID-19 Pandemic," Sustainability, MDPI, vol. 14(13), pages 1-14, June.
87. Nicolao Bonini & Ilana Ritov & Michele Graffeo, 2007. "When does a referent problem affect willingness to pay for a public good?," Labsi Experimental Economics Laboratory University of Siena 015, University of Siena.
88. 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).
89. Abigail T Evans & Ellen Peters & Andrew A Strasser & Lydia F Emery & Kaitlin M Sheerin & Daniel Romer, 2015. "Graphic Warning Labels Elicit Affective and Thoughtful Responses from Smokers: Results of a Randomized Clinical Trial," PLOS ONE, Public Library of Science, vol. 10(12), pages 1-23, December.
90. repec:cup:judgdm:v:6:y:2011:i:4:p:295-306 is not listed on IDEAS
91. Yan Li & Neal Ashkanasy & David Ahlstrom, 2014. "The rationality of emotions: A hybrid process model of decision-making under uncertainty," Asia Pacific Journal of Management, Springer, vol. 31(1), pages 293-308, March.
92. Usul, Naime & Özdemir, Özlem & Kiessling, Timothy, 2017. "Affect-based stock investment decision: The role of affective self-affinity," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 68(C), pages 97-109.