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The multiplicity of emotions: A framework of emotional functions in decision making

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Author Info
Hans-Rüdiger Pfister
Gisela Böhm
Abstract

A four-fold classification of emotions with respect to their functions in decision making is proposed. It is argued that emotions are not homogenous concerning their role in decision making, but that four distinct functions can be distinguished concerning emotional phenomena. One function is to provide information about pleasure and pain for preference construction, a second function is to enable rapid choices under time pressure, a third function is to focus attention on relevant aspects of a decision problem, and a fourth function is to generate commitment concerning morally and socially significant decisions. The pertinent literature on the relationship between emotion and decision making is reviewed, and it is concluded that most approaches fit into the proposed framework. We argue that a precise conceptualization of emotional phenomena is required to advance our understanding of the complex role of emotions in decision making.

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Article provided by Society for Judgment and Decision Making in its journal Judgment and Decision Making.

Volume (Year): 3 (2008)
Issue (Month): (January)
Pages: 5-17
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Handle: RePEc:jdm:journl:v:3:y:2008:i::p:5-17

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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.:
  1. Loewenstein, George, 1996. "Out of Control: Visceral Influences on Behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 65(3), pages 272-292, March. [Downloadable!] (restricted)
  2. Pillutla, Madan M. & Murnighan, J. Keith, 1996. "Unfairness, Anger, and Spite: Emotional Rejections of Ultimatum Offers," Organizational Behavior and Human Decision Processes, Elsevier, vol. 68(3), pages 208-224, December. [Downloadable!] (restricted)
  3. Tversky, Amos & Thaler, Richard H, 1990. "Anomalies: Preference Reversals," Journal of Economic Perspectives, American Economic Association, vol. 4(2), pages 201-11, Spring. [Downloadable!] (restricted)
  4. Elster, Jon, 1996. "Rationality and the Emotions," Economic Journal, Royal Economic Society, vol. 106(438), pages 1386-97, September. [Downloadable!] (restricted)
  5. Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-24, December. [Downloadable!] (restricted)
  6. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-91, March. [Downloadable!] (restricted)
  7. Yaniv, Ilan, 2004. "Receiving other people's advice: Influence and benefit," Organizational Behavior and Human Decision Processes, Elsevier, vol. 93(1), pages 1-13, January. [Downloadable!] (restricted)
  8. Rabin, Matthew, 1993. "Incorporating Fairness into Game Theory and Economics," American Economic Review, American Economic Association, vol. 83(5), pages 1281-1302, December. [Downloadable!] (restricted)
  9. Bechara, Antoine & Damasio, Antonio R., 2005. "The somatic marker hypothesis: A neural theory of economic decision," Games and Economic Behavior, Elsevier, vol. 52(2), pages 336-372, August. [Downloadable!] (restricted)
  10. Geanakoplos, John & Pearce, David & Stacchetti, Ennio, 1989. "Psychological games and sequential rationality," Games and Economic Behavior, Elsevier, vol. 1(1), pages 60-79, March. [Downloadable!] (restricted)
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  1. Martin Hanselmann & Carmen Tanner, 2008. "Taboos and conflicts in decision making: Sacred values, decision difficulty, and emotions," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 51-63, January. [Downloadable!]
  2. Marieke de Vries & Rob W. Holland & Cilia L. M. Witteman, 2008. "In the winning mood: Affect in the Iowa gambling task," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 42-50, January. [Downloadable!]
  3. Mark C. Price & Elisabeth Norman, 2008. "Intuitive decisions on the fringes of consciousness: Are they conscious and does it matter?," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 28-41, January. [Downloadable!]
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This page was last updated on 2008-12-24.

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