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Economic Psychology > Lecture 6: Emotion-Based Choice > Flashcards

Lecture 6: Emotion-Based Choice Flashcards

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1
Q

Nico Frijda

A
  • emotions are lawful phenomena and can be studied
  • the law of situational meaning
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2
Q

the law of situational meaning

A

emotions arise in response to the meaning structures of given situations
- different emotions arise in response to different meaning structures

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3
Q

the law of concern

A

emotions arise in response to events that are important to the individuals goals, motives, or concerns
- why emotions give control precedence

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4
Q

law of comparative feeling

A

intensity of emotion depends on the relationship between an event and some frame of reference against which the event is evaluated

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5
Q

John B. Watson

A

“the shock of an emotional stimulus throws the organism for the moment at least into a chaotic state”

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6
Q

Skinner

A

“we all know that emotions are useless and bad for our peace of mind and our blood pressure”

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7
Q

emotions are (past):

A
  • disturbed perceptions
  • convey biased judgements
  • irrational (“something for women and children”)
  • a source of confusion and mistakes
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8
Q

Blaise Pascal

A

“the heart has its own reason, which reason does not know”

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9
Q

Montesquieu

A

“a man of intelligence feels what others can only know”

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10
Q

Damasio

A

“emotions and the feelings are not a luxury, they are a means of communicating our states of mind to others, but they are also a way of guiding our own judgements and decisions”
- Phineas Gage case study

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11
Q

emotions are (we currently know):

A
  • are crucial for intelligent action
  • motivate us to act on our concerns
  • are not always useful, but the advantages outweigh the disadvantages
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12
Q

Bentham

A

in order to maximize, we need to be able to quantify and compare the amount of happiness/pleasure of possible acts
- measured using hedons and dolors

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13
Q

hedons and dolors

A
  • hedons: units of pleasure
  • dolors: units of pain
  • decision-making = hedonic calculus
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14
Q

emotion = affect = valence

A

emotions can easily be integrated in evaluative judgements (utility/satisfaction)
- expressed on a single scale
- no need to radically change theory

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15
Q

affect and the value function

A
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16
Q

affect and the probability weighting function

A
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17
Q

affect ≠ emotion

A
  • there is ambiguity about the meaning of valence
  • there is a large number of distinct emotions
  • each emotion has its own idiosyncratic experiential content, and hence motivates different behaviors
  • thus, study the effect of individual emotions
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18
Q

problems with valence

A
  • a “positive” emotion has to do with satisfaction (pride?)
  • a “positive” emotion is one that motivates us to obey the rules (guilt/envy?)
  • a “positive” emotion is one that exemplifies the virtues (love/resentment?)
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19
Q

regret theory

A

we feel regret which can influence outcome valuation
- we can predict feeling regret beforehand
- we take regret into account when choosing and choose to avoid it (regret aversion)

20
Q

Kierkegaard

A

“I see it all perfectly; there are 2 possible situations – one can either do this or do that. My honest opinion and my friendly advice is this: do it or do not do it – you will regret both”

21
Q

regret is good

A
  • learning
  • avoid future mistakes
22
Q

animals experiencing regret

A
  • chimpanzees and bonobos exhibit emotional responses to decision outcomes
  • behavioral and neurophysiological correlates of regret in rat decision-making on a neuroeconomic task
23
Q

distinctive physiology

A
  • different areas of the brain are responsible for different things
  • involvement of the orbitofrontal cortex (involved in the feeling of regret but not disappointment)
24
Q

distinctive universal in antecedent events

A

everyone feels regret

25
Q

distinctive thoughts, memories, images, subjective experiences

A

regret experienced in similar ways across cultures

26
Q

Ekman’s criteria for basic emotions

A
  • presence in other primates
  • distinctive physiology
  • distinctive universals in antecedent events
  • rapid onset/brief duration
  • automatic appraisal/unbidden occurrence
  • distinctive appearance developmentally
  • distinctive thoughts, memories, images, subjective experience
27
Q

how do regret and disappointment differ

A
  • disappointment is within your choice
  • regret is in comparison to other decisions
28
Q

the emotion process

A

appraisals of precipitating events -> emotional experience (affect, feelings, thoughts, action-tendencies, emotivations) -> behavioral response

29
Q

feelings-is-for-doing

A

emotions are signals
- informational function
- communicational function
- motivational function

30
Q

bad service encounter -> regret or disappointment -> complain

A
  • regret -> switch
  • disappointment -> negative word-of-mouth
31
Q

good moods

A

when we are in good moods we:
- are better problem solvers
- more likely to remember happy events
- more risk-seeking
- more optimistic about the chance of favorable events

32
Q

bad moods

A

when we are in bad moods we:
- are more likely to recall negative events and overestimate the chances of unfavorable events
- if also aroused, we make less discriminate use of information and fail to search for options

33
Q

anticipated emotions

A

people are assumed to anticipate how they will feel about the outcomes of decisions and use their predictions to guide choice
- prepare us for the future

34
Q

decision affect theory

A

a theory of choices between gambles based on anticipated pleasure
- people are expected to choose the option with greater subjective expected pleasure
- describes the emotions that follow from choices between gambles with monetary outcomes

35
Q

Savage’s minimax principle of risky choice based on anticipated regret

A

asserts that people should select the alternative that minimizes their maximum regret
- unrealistic degree of risk aversion (too much focus on worst-case scenarios)

36
Q

impact of regret

A

depends on the surprisingness of the joint outcome

37
Q

partial and complete feedback

A

on rare occasions we receive feedback about what would have happened if we made a different decision

38
Q

emotional amplification

A

the pleasure of winning and the pain of losing are more intense when outcomes are surprising

39
Q

estimated utilities for both risky and riskless outcomes

A

concave downward for gains and concave upward for losses

40
Q

moral emotions

A

those that are linked to the interests or welfare of society as a whole or of other people
- originate in social relationships and are built on reciprocal evaluations and judgements of the self and others
- guilt, shame, and embarrassment (can also include anger, remorse, and regret)

41
Q

Robert Frank

A
  • believes that emotions can act as commitment devices that help us to solve social dilemmas
  • moral emotions can cause disutility making certain decisions less attractive
42
Q

pro-socials vs pro-selfs

A
  • guilt can motivate cooperation for pro-selfs (does not impact pro-socials as they would already act cooperatively)
  • fear can decrease cooperation for pro-socials but not impact pro-selfs
43
Q

shame

A

potentially the most complicated moral emotion and arises after a moral transgression or incompetence
- leads to threatened self-view and a heightened degree of self-awareness of others
- ashamed people often feel small, alone, powerless, helpless, and inferior to others
- related to submission, social avoidance, withdrawal, rejection, and disengagement from others

44
Q

conflicting empirical evidence of shame

A
  • some studies suggest that shame promotes withdrawal and avoidance behaviors
  • other studies suggest that shame can promote approach behaviors
  • some studies neutral
45
Q

shame in the feeling-is-for-doing approach

A
  • goal to deal with the threatened view of the self
  • shame motivates approach behaviors to restore the self
  • when not possible or too risky, shame motivates avoidance behaviors to protect the self
46
Q

guilt

A

seen as much more positive emotion
- mainly arises after a moral transgression in which people have hurt, intentionally or unintentionally, another person
- focused on the harm and distress caused others
- linked to better perspective taking and feelings of empathy

47
Q

guilt in the feeling-is-for-doing approach

A

became clear that guilt does not only have positive effects
- the duadic preoccupation that is central to experiences of guilt can lead to behavior that is negative for the outcomes of others around us
- when focusing on repairing the hurt relationship, people temporarily pay less attention to others and generally compensate at the expense of the resources allocated to other people
- guilt may induce self-punishment

Economic Psychology (13 decks)

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