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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 […]

Hot-Cold Empathy Gaps and Medical Decision Making

Authors: George Loewenstein, Carnegie Mellon University Publication: Health Psychology Year: 2005 Focus Area: Emotion, Decision Making Relevance: Scam artists can elicit emotional responses in their victims. These “hot” affective states can lead people to make rash judgments about subjects that they would normally weigh carefully before deciding. Summary: Anger, fear, hunger and cravings are examples […]

The Role of Affect in Decision Making

Authors: George Loewenstein, Carnegie Mellon University; Jennifer S. Lerner, Carnegie Mellon University Publication: Handbook of Affective Science Year: 2003 Focus Area: Decision Making, Emotion Relevance: This textbook chapter on emotion’s involvement in decision making provides a comprehensive introduction to the study of decision making. A number of common terms in decision research are defined in […]

Risk as Feelings

Authors: George F. Loewenstein, Carnegie Mellon University; Elke U. Weber, Columbia University; Christopher K. Hsee, University of Chicago; Ned Welch, Carnegie Mellon University Publication: Psychological Bulletin Year: 2001 Focus Area: Decision making, Emotion, Risk Relevance: Financial decisions – including decisions to buy into a deal that turns out to be a fraud – often require […]

A Visceral Account of Addiction

Authors: George Loewenstein, Carnegie Mellon University Publication: Getting Hooked: Rationality and Addiction (book) Year: 1999 Focus Area: Prevention, Decision Making Relevance: Victims of fraud are not victims of addiction, but the methods used to remind recovering addicts why they quit taking a drug could be applied to fraud prevention programs. In both cases, time diminishes […]

Beyond Valence: Toward a Model of Emotion-Specific Influences on Judgement and Choice

Authors: Jennifer S. Lerner, Carnegie Mellon University and UCLA; Dacher Keltner, UC Berkeley Publication: Cognition and Emotion Year: 2000 Focus Area: Emotion, Decision Making, Risk, Profile, Prevention Relevance: Personality traits, namely a tendency towards fear or anger, can influence risk assessment. People who characteristically tend toward anger make riskier decisions. However, strategies that make people […]

The Influence of Culture on Consumer Impulsive Buying Behavior

Authors: Jacqueline J. Kacen, University of Illinois at Urbana-Champaign; Julie Anne Lee, University of Hawaii-Manoa Publication: Journal of Consumer Psychology Year: 2002 Focus Area: Profile, Persuasion, Decision Making Relevance: Some fraud victims, like impulse buyers, make quick decisions about a purchase. Mood, emotion, and culture can all play a part in these decisions, and profiles […]