Entries by admin

Rational Actors or Rational Fools? Implications of the Affect Heuristic for Behavioral Economics

Authors: Paul Slovic, Decision Research; Melissa L. Finucane, Center for Health Research, Hawaii; Ellen Peters, Decision Research; Donald G. MacGregor, Decision Research Publication: American Institute for Economic Research (symposium paper) Year: 2002 Focus Area: Decision Making, Prevention, Emotion Relevance: This article presents a readable and comprehensive review of the affect heuristic – the tendency to […]

Investment Behavior and the Negative Side of Emotion

Authors: Baba Shiv, Stanford University; George Loewenstein, Carnegie Mellon University; Antoine Bechara, University of Iowa; Hanna Damasio, University of Iowa; Antonio R. Damasio, University of Iowa Publication: Psychological Science Year: 2006 Focus Area: Decision Making, Emotion, Consumer Behavior Relevance: People use both rational thought and emotion to evaluate risk as they make decisions. Further insight […]

Heart and Mind in Conflict: The Interplay of Affect and Cognition in Consumer Decision Making

Authors: Baba Shiv, University of Iowa; Alexander Fedorikhan, Washington State University Publication: Journal of Consumer Research Year: 1999 Focus Area: Persuasion, Decision Making, Emotion Relevance: The products offered to people in scams, as well as the presentation of these products, may appeal to victims’ emotions. If victims are preoccupied with other mental tasks – if […]

Choosing an Inferior Alternative

Authors: J. Edward Russo, Cornell University; Kurt A. Carlson, Duke University; Margaret G. Meloy, The Pennsylvania State University Publication: Psychological Science Year: 2006 Focus Area: Persuasion, Emotion, Decision Making Relevance: People may become involved in scams that they would not rationally choose to participate in. The ways in which fraudsters present information to their victims […]

All Negative Moods Are Not Equal: Motivational Influences of Anxiety and Sadness on Decision Making

Authors: Rajagopal Raghunathan, New York University; and Michel Tuan Pham, Columbia University Publication: Organizational Behavior and Human Decision Processes Year: 1999 Focus Area: Emotion, Decision Making Relevance: Risk and reward expectations are essential components of fraud schemes, and the effect of emotion on victims’ decision can determine their vulnerability to particular types of scams as […]

Impact of Risk Disclosures Through Direct-to-Consumer Advertising on Elderly Consumers’ Behavioral Intent

Authors: Prashant Tukaram Nikam, The Ohio State University Year: 2003 Focus Area: Prevention, Consumer Behavior Relevance: Communication about risk happens both in legitimate fraud prevention programs and in fraud pitches to victims. In this research about pharmaceutical advertisements, the type of risk warning (general vs. specific) was more important than the number of warnings. The […]

How Can Decision Making Be Improved?

Authors: Katherine L. Milkman, University of Pennsylvania; Dolly Chugh, New York University; Max H. Bazerman, Harvard University Publication: Perspectives on Psychological Science Year: 2009 Focus Area: Decision making, Prevention Relevance: While prevention efforts cannot ensure that people make the correct decision, strategies to improve the decision-making process are valuable assets in improving outcomes. When is […]

Harnessing Our Inner Angels and Demons: What We Have Learned About Want/Should Conflicts and How That Knowledge Can Help Us Reduce Short-Sighted Decision Making

Authors: Katherine L. Milkman, Harvard University; Todd Rogers, Harvard University; Max H. Bazerman, Harvard University Publication: HBS Working Paper # 5787 Year: 2007 Focus Area: Prevention, Decision Making Relevance: Understanding the contextual factors that influence a person’s ability to successfully exercise willpower and good decision making may improve the efficacy of financial fraud prevention efforts. […]

A Hot/Cool-System Analysis of Delay of Gratification: Dynamics of Willpower

Authors: Janet Metcalfe, Columbia University; Walter Mischel, Columbia University Publication: Psychological Review Year: 1999 Focus Area: Persuasion, Decision Making, Prevention, Emotion Relevance: Willpower can be manipulated – both positively and negatively – when people make decisions. The hot-cold framework provides suggestions on the subtleties of willpower manipulation and suggests potential techniques and explanations to increase […]

The Heat of the Moment: Modeling Interactions Between Affect and Deliberation

Authors: George Loewenstein, Carnegie Mellon University; Ted O’Donoghue, Cornell University Publication: Year: 2007 Focus Area: Emotion, Decision Making Relevance: Impulsive behavior, according to this paper, can be seen as the triumph of the affective (emotional) mind over the deliberative (rational) mind. This simplification extends to many decision scenarios, but there are subtle variations that influence […]