IDEAS home Printed from https://ideas.repec.org/a/eee/joepsy/v23y2002i1p1-25.html
   My bibliography  Save this article

"Neither an angel nor an ant": Emotion as an aid to bounded rationality

Author

Listed:
  • Hanoch, Yaniv

Abstract

No abstract is available for this item.

Suggested Citation

  • Hanoch, Yaniv, 2002. ""Neither an angel nor an ant": Emotion as an aid to bounded rationality," Journal of Economic Psychology, Elsevier, vol. 23(1), pages 1-25, February.
    • Handle: RePEc:eee:joepsy:v:23:y:2002:i:1:p:1-25
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0167-4870(01)00065-4
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Sousa, Maria da Conceição Sampaio de, 1987. "Proteção, crescimento e distribuição de renda no Brasil - uma abordagem de equilíbrio geral," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 41(1), January.
    2. Simon, Herbert A, 1978. "Rationality as Process and as Product of Thought," American Economic Review, American Economic Association, vol. 68(2), pages 1-16, May.
    3. Arnould, Eric J & Price, Linda L, 1993. "River Magic: Extraordinary Experience and the Extended Service Encounter," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 20(1), pages 24-45, June.
    4. W. Bentley MacLeod, 1996. "Decision, Contract, and Emotion: Some Economics for a Complex and Confusing World," Canadian Journal of Economics, Canadian Economics Association, vol. 29(4), pages 788-810, November.
    5. Shira B. Lewin, 1996. "Economics and Psychology: Lessons for Our Own Day from the Early Twentieth Century," Journal of Economic Literature, American Economic Association, vol. 34(3), pages 1293-1323, September.
    6. Heiner, Ronald A, 1983. "The Origin of Predictable Behavior," American Economic Review, American Economic Association, vol. 73(4), pages 560-595, September.
    7. James G. March, 1978. "Bounded Rationality, Ambiguity, and the Engineering of Choice," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 587-608, Autumn.
    8. Matthew Rabin, 1998. "Psychology and Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 11-46, March.
    9. Celsi, Richard L & Rose, Randall L & Leigh, Thomas W, 1993. "An Exploration of High-Risk Leisure Consumption through Skydiving," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 20(1), pages 1-23, June.
    10. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
    11. Rook, Dennis W, 1985. "The Ritual Dimension of Consumer Behavior," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 12(3), pages 251-264, December.
    12. Earl, Peter E, 1990. "Economics and Psychology: A Survey," Economic Journal, Royal Economic Society, vol. 100(402), pages 718-755, September.
    13. Lipman, Barton L, 1991. "How to Decide How to Decide How to. . . : Modeling Limited Rationality," Econometrica, Econometric Society, vol. 59(4), pages 1105-1125, July.
    14. Berger, Lawrence A., 1989. "Economics and Hermeneutics," Economics and Philosophy, Cambridge University Press, vol. 5(2), pages 209-234, October.
    15. Stephen E.G Lea & Paul Webley & Brian M. Young, 1992. "New Directions in Economic Psychology," Books, Edward Elgar Publishing, number 277.
    16. John Conlisk, 1996. "Why Bounded Rationality?," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 669-700, June.
    17. Simon, Herbert A., 1985. "Human Nature in Politics: The Dialogue of Psychology with Political Science," American Political Science Review, Cambridge University Press, vol. 79(2), pages 293-304, June.
    18. Shiv, Baba & Fedorikhin, Alexander, 1999. "Heart and Mind in Conflict: The Interplay of Affect and Cognition in Consumer Decision Making," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 26(3), pages 278-292, December.
    19. repec:bla:kyklos:v:52:y:1999:i:3:p:415-39 is not listed on IDEAS
    20. Pham, Michel Tuan, 1998. "Representativeness, Relevance, and the Use of Feelings in Decision Making," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 25(2), pages 144-159, September.
    21. Augier, Mie & Kreiner, Kristian, 2000. "Rationality, Imagination and Intelligence: Some Boundaries in Human Decision-Making," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 9(4), pages 659-681, December.
    22. George Loewenstein, 2000. "Emotions in Economic Theory and Economic Behavior," American Economic Review, American Economic Association, vol. 90(2), pages 426-432, May.
    23. Jon Elster, 1998. "Emotions and Economic Theory," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 47-74, March.
    24. Isen, Alice M. & Geva, Nehemia, 1987. "The influence of positive affect on acceptable level of risk: The person with a large canoe has a large worry," Organizational Behavior and Human Decision Processes, Elsevier, vol. 39(2), pages 145-154, April.
    25. Richard H. Thaler, 2000. "From Homo Economicus to Homo Sapiens," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 133-141, Winter.
    26. Kaufman, Bruce E., 1999. "Emotional arousal as a source of bounded rationality," Journal of Economic Behavior & Organization, Elsevier, vol. 38(2), pages 135-144, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kavous Ardalan, 2018. "Behavioral attitudes toward current economic events: a lesson from neuroeconomics," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 53(4), pages 202-208, October.
    2. Ardalan, Kavous, 2018. "Neurofinance versus the efficient markets hypothesis," Global Finance Journal, Elsevier, vol. 35(C), pages 170-176.
    3. Jacobs Martin, 2016. "Accounting for Changing Tastes: Approaches to Explaining Unstable Individual Preferences," Review of Economics, De Gruyter, vol. 67(2), pages 121-183, August.
    4. Brendan Markey‐Towler, 2019. "The New Microeconomics: A Psychological, Institutional, and Evolutionary Paradigm with Neoclassical Economics as a Special Case," American Journal of Economics and Sociology, Wiley Blackwell, vol. 78(1), pages 95-135, January.
    5. Muramatsu, Roberta & Hanoch, Yaniv, 2005. "Emotions as a mechanism for boundedly rational agents: The fast and frugal way," Journal of Economic Psychology, Elsevier, vol. 26(2), pages 201-221, April.
    6. Augier, Mie, 2001. "Sublime Simon: The consistent vision of economic psychology's Nobel laureate," Journal of Economic Psychology, Elsevier, vol. 22(3), pages 307-334, June.
    7. Benjamin E. Hermalin and Alice M. Isen., 1999. "The Effect of Affect on Economic and Strategic Decision Making," Economics Working Papers E99-270, University of California at Berkeley.
    8. J Foster, 2000. "Is There A Role For Transaction Cost Economics If We View Firms As Complex Adaptive Systems?," Contemporary Economic Policy, Western Economic Association International, vol. 18(4), pages 369-385, October.
    9. Kowalski, Tadeusz, 2002. "The Simonian bounded rationality hypothesis and the expectation formation mechanism," MPRA Paper 33981, University Library of Munich, Germany.
    10. Brendan Markey-Towler, 2018. "Salience, chains and anchoring. Reducing complexity and enhancing the practicality of behavioural economics," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 2(1), pages 83-90, March.
    11. Markus Pasche, 2013. "What Can be Learned from Behavioural Economics for Environmental Policy?," Jena Economics Research Papers 2013-020, Friedrich-Schiller-University Jena.
    12. Brian M. Lucey & Michael Dowling, 2005. "The Role of Feelings in Investor Decision‐Making," Journal of Economic Surveys, Wiley Blackwell, vol. 19(2), pages 211-237, April.
    13. David Stadelmann & Benno Torgler, 2012. "Bounded Rationality and Voting Decisions Exploring a 160-Year Period," Working Papers 2012.70, Fondazione Eni Enrico Mattei.
    14. Augier, Mie & March, James G., 2002. "A model scholar: Herbert A. Simon (1916-2001)," Journal of Economic Behavior & Organization, Elsevier, vol. 49(1), pages 1-17, September.
    15. Castellani, Marco & Di Giovinazzo, Viviana & Novarese, Marco, 2010. "Procedural rationality and happiness," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(3), pages 376-383, June.
    16. Carin Huber & Tobias Schlager, 2018. "Testing the risk as feeling and risk as analysis perspective for insurance: the antecedents of purchasing unit-linked life insurance products," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 23(1), pages 25-37, March.
    17. Brendan Markey-Towler, 2021. "Psychology of evolutionary economic behaviour," Evolutionary and Institutional Economics Review, Springer, vol. 18(2), pages 361-383, September.
    18. Emmanuel PETIT, 2010. "The role of regret in the persistence of anomalies in financial markets (In French)," Cahiers du GREThA (2007-2019) 2010-07, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    19. Bruno S. Frey & Matthias Benz, 2004. "From Imperialism to Inspiration: A Survey of Economics and Psychology," Chapters, in: John B. Davis & Alain Marciano & Jochen Runde (ed.), The Elgar Companion To Economics and Philosophy, chapter 4, Edward Elgar Publishing.
    20. Pixley, Jocelyn, 2010. "The use of risk in understanding financial decisions and institutional uncertainty," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(2), pages 209-222, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:joepsy:v:23:y:2002:i:1:p:1-25. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/joep .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.