Emotions in Economic Theory and Economic Behavior

By George Loewenstein. 2000

1,289 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences, Safety Research

View Paper: https://www.semanticscholar.org/paper/ddd38fff9f6e1c12e1944e4cf35e9b7aaeb5aaf1

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Citations in the corpus

Social Mood and Financial Economics (2005, background): “The collective level of optimism or pessimism in society impacts investor decisions (the “social mood” of Prechter [1999], or the “background mood” of Loewenstein et al. [2001] and Slovic et al. [2002]).”
Efficient Markets Hypothesis (2007, neutral): “Market efficiency cannot be evaluated in a vacuum, but is highly context-dependent and dynamic, just as insect populations advance and decline as a function of the seasons, the number of predators and prey they face, and their abilities to adapt to an ever-changing environment.”
The Importance of Being Emotional : How do Emotions Affect Entrepreneurial Opportunity Evaluation and Exploitation? (2010, background): “The role of emotion and the importance of being emotional has attracted growing attention in economics over the past decade (Elster, 1996, 1998; Frank, 1988; Loewenstein, 1996, 2000).”
Terrorist attacks and investor risk preference: Evidence from mutual fund flows (2020, neutral): “For example, Loewenstein (2000) claims that emotions such as fear and depression, experienced at the time of the decision-making, can alter the measured risk aversion”
Time varying risk aversion (2013, neutral): “Alternatively, Loewenstein et al. (2001) recognize that emotions are often experienced at the time of the decision and may lead to action bypassing the cognitive process.”
Air pollution and stock returns: Evidence from a natural experiment (2016, background): “…state experienced at the time a decision is being made is likely to condition the decision itself (Forgas, 1995; Frijda, 1988; Isen et al., 1978; Loewenstein, 2000), for emotions are believed to regulate thought and inform judgment and cognitive evaluations (Damasio, 1994; Loewenstein et al.,…”
The cost of pride: Why do firms from developing countries bid higher? (2011, neutral): “…when national pride considerations are present.7 A large literature in psychology demonstrates the effects of emotions on decision making (see Loewenstein (2000) and Lerner and Keltner (2000) for extensive references to this 5 The link to empire building can also be found in the literature…”
Angry men and disgusted women: An evolutionary approach to the influence of emotions on risk taking (2004, background): “Our findings therefore support the view that emotions constitute a relatively autonomous channel of influence on decision making, operating in conjunction with, but largely independent of, more strictly cognitive processes (Clore, Gasper, & Garvin, 2001; Ketelaar & Clore, 1997; Loewenstein, 2000; Lo”
Are Investors Moonstruck? - Lunar Phases and Stock Returns (2001, background): “Finally, mood may affect preferences (Loewenstein, 2000; Mehra and Sah, 2000).”
Personality and the marginal utility of income: Personality interacts with increases in household income to determine life satisfaction (2011, background): “Some researchers have suggested that the role of emotions are hugely understated in economic theory, even though emotions are likely to influence an individual’s enjoyment of particular economic activities (Elster, 1998; Loewenstein, 2000).”